US Dollar Index loses the grip and drops to 92.50 ahead of key data
- DXY drops to 2-day lows in the 92.50 region on Tuesday.
- US 10-year yields follow a consolidative theme around 1.32%.
- US CPI will take centre stage later in the NA session.
The greenback gives away further ground and slip back to the 92.50 zone on turnaround Tuesday when measured by the US Dollar Index (DXY).
US Dollar Index now looks to CPI
The index loses further momentum and re-visits the the 92.50 region on turnaround Tuesday following Monday’s unsuccessful attempt to retake the 93.00 barrier. In fact, the dollar started the week on a positive note and advanced to the vicinity of the 93.00 barrier, where the bull run fizzled out.
Tuesday’s rangebound theme in DXY comes in tandem with the consolidation in yields of the key US 10-year reference note above the 1.30% against the backdrop of rising cautiousness ahead of the publication of August’s…