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Currencies: Dollar index falls below 200-day moving average as Fed officials argue for quick action on signs of distress

The U.S. dollar weakened Thursday, with a closely watched index turning negative for the week, after New York Fed President John Williams sent ripples through financial markets by arguing that the central bank’s limited room for stimulus calls for quick action when signs of distress emerge.

The ICE U.S. Dollar Index DXY, -0.56% , a measure of the U.S. currency against a basket of six major rivals, fell 0.5% to 96.69, leaving it down 0.1% for the week and below its 200-day moving average at 96.75. A decisive move below the average would be viewed by technicians as a loss of longer-term upside momentum for the index.

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