Dollar index sinks below 100 mark
The dollar index is extending slide for a fourth consecutive day and below 100 mark on Thursday in reaction to Moodys downgrade of US government debt. Last week, Moodys, the international rating agency, downgraded the US government rating from AAA to AA1. Worries over the performance of the US economy are also keeping the greenback under pressure. The dollar index that measures the greenback against a basket of currencies is quoting at 99.50, almost flat on the day and at its lowest level in around two-weeks. US Initial Jobless Claims, Existing Home Sales and the S&P Global Manufacturing and Services PMIs are awaited for further cues. Among basket currencies, EUR/USD surpassed the key 1.1300 barrier whereas GBP/USD reached the 1.3470 zone for the first time since February 2022.
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