Following Friday's decline, the U.S. dollar Index (DXY) rose to begin the new week on a good note.
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The US Dollar is rallying this morning on the back of the first Caucus election for the GOP candidate that will square off with Joe Biden.
The U.S. dollar index fell on Tuesday, near its lowest level in six months. It was pulled down by better market confidence following China's announcement that quarantine limits for entering passengers will be lifted in early January.
On Wednesday, financial markets remained bumpy as trading conditions remained thin ahead of the New Year holidays.
According to the final Davos panel charged with summarizing the forum, “The world is finding an uneasy equilibrium with a more benign economic backdrop overshadowed by a panoply of geopolitical risks.”
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The U.S. dollar maintains its lead over its major rivals early Thursday, as investors appear to be on the sidelines ahead of significant macroeconomic data releases.
Choppy, range-bound trading in the major currencies continues.
Early Friday, the market sentiment seemed to have improved slightly, making it harder for the U.S. dollar to build on Thursday's rise.
After closing the previous two days in positive territory, the U.S. dollar is falling today, losing 0.18%.
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