The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second successive session and trading around 98.80 during the European hours on Wednesday.
Following the US President's announcement on Monday night of a de-escalation in the tariff conflict with China, it was no surprise that the USD was able to recoup its losses from Friday. For weeks, we have been discussing when EUR-USD will finally break through the 1.18 level on a sustained basis.
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a softer note near 99.30 during the early European session on Friday. Traders brace for comments from Federal Reserve (Fed) policymakers later on Friday.