United States Dollar Index holds above 102, remains supported by firm bond yields
The US Dollar (USD) trades broadly firm against its major currency peers as United States (US) bond yields remain higher due to persistent inflation fears.
The US Dollar (USD) has maintained a strong position against major currencies as bond yields in the United States remain elevated due to ongoing concerns about inflation. According to market data, the US Dollar Index (DXY) has risen by 0.1% to approximately 102.20, nearing its annual peak of 102.54. Meanwhile, 10-Year US Treasury Yields have increased by 0.24% to near 5.32%, close to a fresh two-decade high of 5.35%.
The table below breaks down the percentage change of the US Dollar against key currencies today, highlighting that the USD was the strongest against the British Pound. Investors are closely monitoring the Federal Open Market Committee (FOMC) minutes, which will be released on Wednesday, for any hints about the future trajectory of US interest rates.
Current technical analysis indicates a bullish near-term outlook for the Dollar Index, as its price is trading above the 20-day exponential moving average (EMA) at 100.96, and the 14-period Relative Strength Index (RSI) at 76.10 is in overbought territory.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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