Investing.com
At 06:10 ET (10:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 103.760, subject to a small round of profit-taking after hitting the mark a month ago.
The greenback rose at the start of the week, trading in a narrow range amid a generally stable backdrop following last week's central bank meeting and ahead of the release of the Federal Reserve's favorite inflation gauge. on Friday this week.
“We believe last week's dollar rally was overdone given the Federal Reserve's relatively dovish message, and we are not surprised to see the dollar rise,” said analysts at ING. la discount early this week.
There is more economic data due out on Tuesday, including March consumer confidence data, February durable goods orders and the Richmond Fed manufacturing survey.
However, the trading range is unlikely to widen significantly before the release of the Fed's preferred inflation measure, the core personal consumption expenditures price index, expected when markets close on Wednesday. Good Friday.
Last week, the Fed left unchanged its forecast for three rate cuts this year, but added that it wants more evidence that inflation is slowing before easing.
