The Q4 US GDP was revised higher to 3.4%, while Initial Jobless Claims came strong. The March Chicago PMI came in lower than expected. US Treasury yields stand mixed and limit the upside for the USD. The US Dollar Index initially soared to 104.70 but then stabilized at 104.50. On the positive side, Gross Domestic Product revision and strong weekly Initial Jobless Claims figures from the US benefited the Greenback.
This suggests that despite short-term bearish undertones, the bulls have a firmer grip in the long run. Despite their dominance, the bulls are currently steady but seem to be struggling to gain more ground, which can impact the short-term dynamic of the DXY. US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes.