US Dollar gains ground and cuts a three-day losing streak

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• DXY Index shows resilience despite the worst weekly performance over a month, hovering at 102.60.
• The US Dollar was lifted by strong S&P Global Services PMI figures from December.
• Dovish bets on the Fed may limit the upward movement.

   
The US Dollar (USD), measured by the DXY index, is trading at 102.60, posting daily gains but marking its worst weekly performance in over a month. This movement comes on the back of strong US Services PMI data and investors’ efforts to consolidate the losses of the last three sessions.