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US Dollar Index erases October losses

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - Greenback, measured by the US Dollar Index, is having the biggest daily gain in almost two months as it extended the rally above 96.00.

    Draghi rally continues

    European Central Bank President, Mario Draghi opened the doors to more easing from the bank and triggered a rally of the US dollar versus CHF, EUR, JPY and GBP that boosted the index. Initially it stopped slightly above 96.00, but after a short pause, resumed the upside.

    Recently the US Dollar Index reached 96.35, the highest level since October 2. During the last six trading days it has risen in five, climbing back to the level it had at the beginning of the month.

    Greenback managed to recover sharply after falling last week to 93.75, the lowest since the August financial market turmoil.

    Draghi also boost Wall Street

    Equities in the US are rising sharply. The Dow Jones was up more than 200 points, by 1.40% while the Nasdaq was rising 1.20%. Greenback rose even against the yen despite the rally in US government bonds. The 10-year bond yield dropped from 2.050% to 2.003%.
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