Dollar index steadies under 100 mark; Fed policy in focus

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Dollar index steadies under 100 mark; Fed policy in focus	Share Back
(13:11, 06 May 2025)
The dollar index continues to steady in a narrow range under 100 mark on Tuesday amid uncertainty regarding tariff deals between US and China and resurfacing concerns in Middle East. Meanwhile, ISM survey showed on Monday that the growth in the US services sector picked up in April. ISM Services PMI rose to 51.6 compared to 50.8 in March and 50.6 estimated. This comes on top of Friday's upbeat US jobs data and eases fears of a US recession. Investors now look forward to the highly-anticipated two-day FOMC meeting starting this Tuesday for cues on rate path. Currently, the dollar index that measures the greenback against a basket of currencies is quoting at 99.46, down 0.18% on the day.
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