U.S. Dollar Remains Upbeat As Asset Tapering Comes Into Play

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As risk appetite increased and equities gained on Friday, the greenback dropped from a nine-and-a-half-month high, but near-term prospects remained relatively positive.

As central banks begin to reverse COVID-19 pandemic-related stimulus, dollar bulls are supported by concerns that the COVID-19 delta variant may stall the global economic recovery.

A measure of the strength of the dollar against six rivals rose to its highest level since November earlier this month, before trading 0.1% lower at 93.491 index points. 1% gain for the week, the highest gains in two months

The American dollar index reached the top of a double-top development in a monthly chart the previous day but did not offer a daily confirmation. A clear break of the key hurdle of 93.20, now supported, was achieved shortly thereafter.

This means that the price is likely to extend its recent gains to the yearly top around 93.45, but any further gains will be challenged by an overbought…

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