US Dollar Strengthens Over Easing of Trade Restrictions on Huawei

The US dollar index edged higher to trade above 98 as the market sentiment improved slightly when the US eased trade restrictions temporarily on Huawei. At the time of writing, DXY is trading at around 98.05 after having climbed up to 98.134 on Tuesday, the highest in over three weeks.

The DXY has strengthened by 1.9% so far this year. However, markets continue to trade amid an air of uncertainty around trade tensions between US and China. Analysts are expecting the sentiment to continue this way for a while as a resolution or a deal between the two countries seems nowhere in sight just yet.

US Treasury yields also climbed slightly higher, with the yield on the 10-year Treasury note reaching 2.423% .

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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