Currency: The US Dollar is Just Tumbling
There is no respite for the US dollar in the currency markets as the DXY index is only heading south. The DXY index, which measures the performance of the US dollar is now at the 99 level. It briefly touched 100 early this month but failed to hold on to its resistance level. The greenback has never been this weak for 12 years and is only losing steam against local currencies. Also Read: Warren Buffett’s $330B Portfolio Holds 58% in Just 4 Power Stocks Source: MarketWatch Leading local currencies are having an upper hand in the forex markets and racing ahead of the USD. The US dollar had touched a high of 109.40 this year but quickly slipped below the 100 level in the currency markets. Federal Reserve Governor Christopher Waller said to Fox Business that reducing tariffs to 10% could push the markets on the right track. “If we can get the tariffs down close to the 10% and then that’s all sealed, done, and delivered somewhere by July, then we’re in good shape for the sec...