cf. [USDX] Recession Fear and Long Bias 2019 0826
cf. [USDX] Waiting for Jackson Hole Symposium 2019 0823
Dollar Index against major currencies basket is affected by external factors, not by dollar itself.
Dollar is driven by U.S.-China Trade Conflict directly.
The conflict extends to currency war.
As China announced the retaliatory tariffs last week, the expectation of negotiation again led the dollar recovery this week.
The U.S. bond yield leads dollar up and down.
As the 10-yr bond yield rises, greenback rises, too.
The U.S. CME research shows most of market participants expect U.S. benchmark interet rate cut.
The interest cut calls the currency weak and it is expected dollar down.
Another central banks try devaluing their currency.
ECB plans euro's devaluing with QE, interest cut.
Governor of the Bank of Finland spoke ECB more strong PACKAGE including QE and interest cut.
Draghi, ECB president hinted QE in September.
Dollar index recording 98.04 as of early Wednesday is tested as number one safe-haven asset.
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