Home Economy U.S Dollar Stalls Amid Upbeat Economic Data

U.S Dollar Stalls Amid Upbeat Economic Data

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Even though upbeat economic data gave the greenback an early boost on Friday, the greenback was down in London on Friday as the dollar headed for a second consecutive week of losses.

According to U.S. data released on Thursday, existing-home sales grew by 7% month-over-month in September to 6.29 million units.

However, DXY bulls failed to mount pressure on the 94 resistance band, in the wake of the better-than-expected data.

At the time of drafting this report, the U.S. Dollar Index that measures the greenback against a basket of other currencies fell by 0.04% to 93.71 index points

After the boldest move in over a week, bulls pause around 93.75 on the US Dollar Index. After having reversed course from the monthly low, the greenback gauge now seesaws within a choppy range.

Following a low at 92.32, the index broke through its opening range to surge past the resistance level of 93.40/45 into the end of the month.

The rally has been paused by resistance…

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