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US Dollar Index reverses the previous day’s pullback from six-week high.
Hawkish Fed bias, geopolitical fears underpin the US Dollar amid sluggish session.
US, Canada holidays restrict immediate moves ahead of FOMC Minutes, US GDP.
US Dollar Index (DXY) picks up bids to regain 104.00, after the previous day’s reversal from a 1.5-month high, as market players struggle for clear directions during early Monday. In doing so, the greenback’s gauge versus the six major currencies cheers the market’s risk-off mood, as well as the hawkish bias for the Federal Reserve (Fed), amid an inactive week-start due to the holidays in the US and Canada.
The sour sentiment could be linked to the fresh geopolitical tension surrounding North Korea, China and Russia.
During the weekend,…
