DXY Index
The Buck is struggling to contain losses amidst risk-on flows/positioning at the start of the final full week of August, with sentiment buoyed by last Friday’s better than expected prelim US PMIs and further progress on the COVID-19 vaccine front. On that note, Pfizer and BioNTech hope to have sufficient samples for testing as early as October, and if approved could produce 100 mn doses by the of the year. As such, the index has been down to 92.837 vs 93.284 at the other extreme, while most EM currencies are taking advantage of the upbeat market tone and related Greenback weakness/underperformance.
The Buck is struggling to contain losses amidst risk-on flows/positioning at the start of the final full week of August, with sentiment buoyed by last Friday’s better than expected prelim US PMIs and further progress on the COVID-19 vaccine front. On that note, Pfizer and BioNTech hope to have sufficient samples for testing as early as October, and if approved could produce 100 mn doses by the of the year. As such, the index has been down to 92.837 vs 93.284 at the other extreme, while most EM currencies are taking advantage of the upbeat market tone and related Greenback weakness/underperformance.