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DXY Reverses Earlier Losses

M. Ali 11 September, 2020 12:16 am Forex Market, Market Update

The US Dollar (USD) recovered from its earlier losses on Thursday, which were mostly on the back of pressures by the rising Euro after the European Central Bank maintained interest rates.

The Dollar Index (DXY), which measures the performance of the USD against a basket of six major international currencies, is now up by 0.16% for the day at 93.41, close to its daily high.

This comes after the index closed Wednesday at 93.26, moving today in a range between 92.70 and 93.45.

EUR/USD remains up by 0.11% at 1.1816, while the GBP/USD is providing the much-needed support for the greenback as it is down by 1.64% on Brexit uncertainty after the European Union called upon the British government to show commitment to the separation agreement.

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