DXY: US Dollar Retreats After Initial Gains on Mixed Data
The US Dollar Index (DXY) experienced a surge towards 104.70 before leveling off at 104.50. Robust GDP revision figures and positive Initial Jobless Claims data initially fueled a bullish run. However, a softer-than-anticipated Chicago PMI reading curtailed the Dollar’s momentum. The US economy appears resilient, while the Federal Reserve remains cautious. Despite upward inflation revisions, […]