In times of increasing 'geostrategic uncertainty', the US Dollar has recently been tending to weaken rather than strengthen. The more this price behavior of the US currency becomes apparent, the more it could intensify, Commerzbank's Head of FX and Commodity Research Ulrich Leuchtmann notes.
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, holds gains after registering losses in the previous three successive sessions.
EUR/USD extended its rally for the third consecutive day on Wednesday as the US Dollar (USD) continued to face headwinds following the credit downgrade of the United States last Friday.