Bears retake the initiative and challenge 102.00

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  • DXY comes under pressure and revisits 102.00.
  • US yields extend the monthly recovery on Monday.
  • 3-month/6-month Bill Auctions will be on tap later in the NA session.

The greenback starts the trading week on the defensive and drags the US Dollar Index (DXY) back to the 102.00 neighbourhood.

US Dollar Index looks to yields, cautious ahead of CPI

The index extends the erratic performance seen in past sessions and revisits the 102.00 area on the back of the better mood in the risk complex and further upside in US yields.

Recent fresh geopolitical effervescence remained unnoticed for the FX galaxy, while market participants appear focused on the release of inflation figures tracked by the CPI later in the week as well as usual chatter around the Fed’s probable next moves on rates for the remainder of the year.

In the US cash markets, the risk-on tone favours the intense selling pressure around bonds and collaborates with the…

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