US Dollar DXY declines below the 20-day SMA, closes the week with losses

Share:

• The US Dollar struggles to find demand at the end of the week.
• Markets are digesting Powell’s words on Thursday.
• US Treasury yields are retreating and the odds of a hike in December declined.

The US Dollar (USD) measured by the US Dollar Index (DXY) oscillates between gains and losses in the 106.15 area, trading below the 20-day Simple Moving Average (SMA). No relevant data will be released on Friday and the focus shifts to the Israel and Palestine conflict which could benefit the USD as a safe-haven asset.