Rampant surge in the US dollar index is pushing euro, which carries maximum weight in the dollar basket to its lowest level since June 2002. Rising risk aversion globally following hawkish stance by the Federal Reserve to continue with aggressive rate hikes is seen weighing on global commodities and currencies alike. The US dollar index is hovering at fresh two decade peaks of 113.47, having hit 114 levels earlier in the day while benchmark US treasury yields are staying close to 3.8%. EUR/USD pair has been below parity for fifth day in a row and is currently quoting at $ 0.96, down 0.44% on the day. Powered by Commodity Insights
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