7/13/2021 7:51:06 AM GMT
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By Pablo Piovano
DXY trades without clear direction in the 92.20/30 band.
Markets’ attention remains on the release of June CPI later on Tuesday.
Later in the week, Powell’s testimonies will take centre stage.
The greenback, in terms of the
US Dollar Index (DXY), exchanges gains with losses in the low-92.00s so far on turnaround Tuesday.
US Dollar Index focuses on CPI
The index looks to add to Monday’s advance although the cautious note prevails among investors ahead of the publication of the June inflation figures tracked by the CPI later in the session.
The recovery in US 10-year yields to the vicinity of the 1.40% yardstick seems to have lent further legs to the recent rebound in the buck as well, all amidst the muted performance in volatility (measured by the VIX, aka “the panic index”) and the broad-based rangebound theme in the global markets.