Daily market commentary: The US dollar index is hedges lower

Steffy Bogdanova
June 27, 2022 10:50 am

Forex

The US dollar index is hedging lower during early Monday trading. However, the greenback remains close to the 20-year maximum reached earlier in the month, with a gain of more than 2% so far during the month of June. The outlook for the US currency remains tilted to the upside, as the Fed’s commitment to curb inflation, through monetary policy tightening, appears to be more solid than that of its peers, in a dynamic that is conducive to further dollar gains.

Daily Market Commentary

Also offering support to the American currency, is the growing likelihood of an economic recession, triggered by the withdrawal of stimulus; a scenario that increases demand for the relative safety of the dollar.

Ricardo Evangelista – Senior Analyst, ActivTrades

Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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