U.S. Dollar Index (DX) Futures Closed on Weak Side of Short-Term Fib Level at 91.100

The direction of the June U.S. Dollar Index on Tuesday is likely to be determined by trader reaction to the short-term Fibonacci level at 91.100. The U.S. Dollar slumped to its lowest level against a basket of major currencies since March 4 on Monday as traders continued to react to last week’s plunge in U.S. Treasury yields, which was fueled by the Fed’s reiteration that any spike in inflation is likely to be “transitory”. On Monday, June U.S. Dollar Index futures settled at 91.050, down 0.494 or -0.54%. The greenback’s weakness was pronounced across the board, with the currency hitting multi-week lows … (full story)

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