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U.S. dollar is on fire and slicing through key technical levels `like a hot knife in butter’

Posted on AllSides August 19th, 2022
From The Center
Daniel Munoz/Agence France-Presse/Getty Images

The U.S. dollar is back on the upswing again and headed toward the year-to-date highs seen in mid-July following a period of relative dormancy for the last month as investors pulled back on expectations for an imminent U.S. recession.

The ICE U.S. Dollar Index DXY, 0.58% soared 0.6% to 108.12 on Friday on its way toward the year-to-date high reached on July 14. Overnight, the greenback sliced through key technical levels against three of its major counterparts — the euro, British sterling, and Japanese yen — “like a hot...

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