The US Dollar Index (DXY) struggles to hold its early recovery on Friday as the fallout from suspected Japanese intervention and the possibility of direct action by the United States (US) keep the Greenback under pressure.
At the time of writing, the index trades around 99.96, easing from an intraday high of 100.45 and hovering near its lowest level in six weeks. The DXY is also on track to close July in negative territory.
The Greenback suffered a sharp sell-off on Thursday as the Japanese Yen (JPY) surged across the board. Reuters reported, citing a market source, that Japanese authorities likely conducted a large-scale US Dollar-selling…
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