US Dollar Index collapses to 98.00 on geopolitics

  • DXY tanked to the 98.00 area on Tuesday.
  • Auspicious headlines open the door to a ceasefire in Ukraine.
  • CB’s Consumer Confidence next of note in the calendar.

The greenback accelerates losses to 2-week lows near the 98.00 mark when tracked by the US Dollar Index (DXY) on turnaround Tuesday.

US Dollar Index offered on upbeat news from Ukraine

The index shed more than a big figure on Tuesday following encouraging news from the geopolitical scenario, which at the same time has opened the door to a potential ceasefire and eventually the end of the military conflict between Russia and Ukraine.

The dollar rapidly lost ground and approached the 98.00 region alon with a U-turn in yields in the belly and the long end of the curve, while the short end still cling to daily gains just below the 2.50% area.

In the docket, the House Price Index gauged by the FHFA rose 1.6% MoM in January, while house prices measured by the…

Read more…