US Dollar finds a foothold following post-NFP selloff – by eren_fxstreet DollarIndex SEO Macroeconomics UnitedStates Technical Analysis
The US economic docket will not feature any high-tier data releases on Monday and the USD's valuation could be influenced by Federal Reserve officials', including San Francisco Fed President Mary Daly and Cleveland
Over the weekend, US Treasury Secretary Janet Yellen said that she had “direct” and “productive” discussion with senior Chinese officials. However, "the US and China have significant disagreements," Yellen added. In a recently published report, "the Dollar provides one of the highest yields of the world's major currencies, thanks to the Fed's hiking cycle," said Morgan Stanley analysts. "In a world of weak global growth, this yield will also likely help the Dollar to appreciate."Technical Analysis: US Dollar Index turns bearish following Friday's slide
Strong resistance seems to have formed at 103.00 . If the DXY rises above that level and starts using it as support, it could target 103.50 and 104.00 next.The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.
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