Should we be wary of the U.S. dollar, as the Dollar Index has fallen back to 103?

Should we be wary of the U.S. dollar, as the Dollar Index has fallen back to 103?

10.05.2022

In the U.S. currency market yesterday, the Dollar Index, which had been rising, fell to 103, while the EUR/USD pair rose by about 100 pips from 1.049 to 1.059. With yesterday’s rise, the EUR/USD pair has returned to trading within the 1.047–1.059 range; therefore, if it breaks above this range, 1.059 should be viewed as resistance, and if it breaks below, 1.047 should be viewed as support.

Among European currencies, the pound, which had been losing ground, is beginning to recover, and the GBP/USD pair rebounded, rising from 1.226 to 1.240. From a technical perspective, the GBP/USD pair has deviated from its 20-day moving average, and with the RSI at 30, we should remain cautious about further gains should the rebound continue.

Today’s schedule includes Turkey’s unemployment rate at 4:00 PM, Germany’s ZEW Economic Sentiment Survey at 6:00 PM, the U.S. NFIB Small Business Optimism Index at 7:00 PM, remarks by U.S. Federal Reserve Bank of New York President Williams at 8:40 PM, and remarks by U.S. Federal Reserve Governor Barkin at 10:15 PM.Richmond Fed President, at 11:00 PM: Germany’s Bundesbank President Nagel’s remarks, at 2:00 AM: U.S. 3-year Treasury auction, U.S. Fed Governor Waller’s remarks, U.S. Minneapolis Fed President Kashkari’s remarks, and at 4:00 AM: U.S. Atlanta Fed President Bostic’s remarks.We will closely monitor whether today’s key speeches will shift the momentum of the faltering U.S. dollar.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?