The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, remains under some selling pressure for the third straight day and drops to an over one-week low during the Asian session on Thursday. The index is currently placed just below mid-98.00s and seems vulnerable to prolong the recent pullback from the highest level since early August, touched last week.
Dovish Federal Reserve (Fed) expectations, along with concerns that a prolonged US government closure and the US-China trade war would affect the economic performance, turn out to be key factors undermining the USD. In fact, traders have nearly fully priced in the possibility that the US central bank will cut interest rates by a 25-basis-points (bps) each at the October and December policy meetings.
The Senate once again failed to advance the House-passed GOP bill to fund the government for a ninth time on…
