Dollar Index Hovers at 104.2 amid Thin Trading

The dollar index remained stable around 104.2 amidst light trading due to a US holiday today. The previous week had been marked by volatility, with the greenback initially surging almost 1% to reach its highest level in three months before retracting. This movement was triggered by a mix of US economic reports, while January saw increase in US consumer and producer prices, retail sales for the same month came in pale. Market sentiment has shifted since the start of the year, with expectations for total easing now below 100 basis points, a significant drop from the initial 150 bps.

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