The dollar index continues to hold near high levels on Tuesday, as global recession fears prompted demand for the safe haven currency. The Peoples Bank of China unexpectedly cut interest rates on Monday after the release of weak industrial production and retail sales data indicated that the worlds second-largest economy struggled to shake off the hit to growth from its strict COVID restrictions. The dollar index that measures the greenback against a basket of currencies was seen at 106.82, up 0.36% on the day. The dollar index climbed for the third session in a row tracking gains in US treasury yields, trading higher at 2.8%. Powered by Commodity Insights
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