US Dollar stops the bleeding as eyes flock to Powell

The US Dollar (USD) traded flat on Monday, and the DXY index stands near 105.05, cushioned by a sour market mood and rising US bond yields.

DXY index trades flat near 105.05. US government bond yields are rising, rebounding from multi-week lows. The economic docket had no relevant high-tier reports to offer on Monday. Chair Powell will be on the wires on Wednesday. For the rest of the week, investors will put an eye on Chair Powell’s speech on Wednesday to get further clues on the next Federal Reserve meeting in December.

50. Resistance levels: 105.50, 105.80, 106.00. US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.

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