fxstreet.com 09 Feb, 2021 15:30 am

US Dollar Index remains depressed around 90.60

The greenback, when tracked by the US Dollar Index (DXY), remains well on the defensive in the 90.60/50 band on turnaround Tuesday. US Dollar Index of

Investors’ preference for riskier assets has picked up pace as of late in response to the reflation trade and bolstered further by hopes of a firm economic recovery.The continuation of the uptrend in the dollar, however, is forecast to be unsustainable amidst the fragile outlook for the currency in the medium/longer-term, and always against the backdrop of the current massive monetary/fiscal stimulus in the US economy, the “lower for longer” stance from the Fed and prospects of a strong recovery in the global economy, which is expected to morph into extra appetite for riskier assets.04 (weekly low Jan.20 (2021 low Jan.

The vaccine rollout, in the meantime, is expected to pick up pace in Europe and adds to the solid growth prospects.its G10 peers and auspicious (and fast) vaccine rollout.

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