US Dollar Index hovers around 106.80, economic data in focus

The US Dollar index trades within a tight range near 106.80 on Friday as US bond yields reverse direction and now slip back to the red territory.

The US dollar exchanges gains with losses in the 106.70 region when gauged by the USD Index amid the generalized lack of direction in the global markets on Friday.

Despite the current indecisive price action, the index remains closer to the week’s limited gains after the sharp retracement seen in the previous week.

Most of the change in the direction of the dollar in the last two trading sessions comes in response to hawkish comments from St. Louis Fed J. Bullard on Thursday, which dialed down the potential discussion of a slower paced interest rate hiking in the Fed’s policy at the December event.