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The USD index saw a significant decline, dropping 0.33% to 102.76 during North American afternoon trading, in response to weaker-than-expected U.S. Producer Price Index (PPI) data.
The USD index held steady at 103.21, experiencing only minor fluctuations within a narrow trading range. This stability reflects the market's anticipation of significant economic data due later in the week.
The market was influenced by a mix of economic data, central bank expectations, and risk sentiment adjustments as the week progressed.
The Dollar Index (DXY) rose by 0.14% to 103.27 during North American afternoon trading, supported by a general risk-on sentiment that emerged after U.S. jobless claims came in lower than expected.
The USD index rose 0.2% to 103.19 by Wednesday afternoon in North America, with the lion’s share of the gain coming from a significant 2% rise in USD/JPY.
The USD index drifted slightly higher as the recent global market frenzy ebbed, rising 0.15% to 103, coming up off yesterday's seven-month low at 102.66.
The dollar index recovered from early North American lows but ended with a 0.38% loss in afternoon trading due to post-payrolls risk adjustments.
Markets tumbled as fears of a U.S. recession intensified, leading investors to flee from risk assets and causing a rally in bonds.
The dollar index rose on Thursday as the market adopted a slight safe-haven tone following dismal U.S. data and events in the Middle East that heightened risks of a broader conflict.
The dollar index fell on Wednesday as the Federal Reserve held rates steady as expected but hinted at the possibility of a rate cut in September.