The dollar has found a footing after recent pronounced declines. The narrow trade-weighted DXY USD index has tested yesterday’s high at 91.28, having lifted out of yesterday’s seven-week low at 90.86. Safe haven demand for dollars has been afoot amid the risk-off sentiment that has been coursing through global markets on news of spiking Covid cases in various countries across the world, including in Canada, India to Japan. This has allowed the dollar to break free from its recent correlation with abating Treasury yields.
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