The greenback, in terms of the USD Index (DXY), regains some composure and revisits the 102.50/60 area on Wednesday.
USD Index looks at risk trends, banking sector
The current bullish attempt comes after two consecutive daily declines and on the back of the tepid knee-jerk in the risk complex as well as the lack of direction surrounding US yields.
In the meantime, banking concerns appear far from abated and somewhat underpin the better tone in the dollar via a firmer demand for the safe haven universe.
On the negative side for the buck, the likelihood that the Federal Reserve might pause its tightening stance at the May gathering continues to weigh on the currency, at the time when the probability of this scenario hovers around 60% according to CME Group’s FedWatch Tool.
In the US data space, weekly MBA Mortgage Applications are due seconded by Pending Home Sales and the weekly report on US crude oil inventories by the EIA.
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