USD Rebounds Despite Drop in Consumer Sentiment

The U.S. Dollar (USD) is rebounding, after spending most of Tuesday in the negative territory, as investors are adjusting their positions, thus easing selling pressures.

In addition, Treasury bond yields leveled up, providing support for the greenback.

The Dollar Index (DXY) is now marginally higher for the day by 0.03% at 92.682 after touching a low of 92.40.

Earlier, consumer confidence in the United States plunged to its lowest level in six months, as the Conference Board index dropped to 113.8 from 125.1 in July, after last month’s reading was revised.

This is attributed to concerns over the spread of the Delta variant of the coronavirus.