- DXY pairs losses in the final hours of FX trade and manages to close in the green close to 90.80.
- However, DXY still closed the week with steep losses of just over 1.0%.
The Dollar Index (DXY) picked up into the Friday FX market close, closing the final trading day of the week close to 90.80 with gains of just under 10 points or 0.1%.
USD gasps for breath
It’s been a tough week for USD to say the least. DXY was as high as 92.00 on Monday, reversing aggressively to the downside to hit lows beneath 90.50 on Friday, a drop of more than 1.2% at worst levels. A much-needed technical recovery, or bout of profit-taking appears to have been in play in the final hours of trade, but whether this very minor recovery can continue into next week remains to be seen.
Moreover, following Friday’s jobs report, many analysts still see risks for USD as being tilted towards further downside; soft labour market data strengthens the case for further Fed action (dovish and USD negative) as well as more fiscal stimulus (risk on so USD negative).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.