Dollar reduces losses from yesterday and Gold is rising again

Dollar reduces losses from yesterday and Gold is rising again

The US Dollar rebounded after its sharp slide yesterday following the FOMC statement. The action was a result of market positioning where the Dollar was extremely oversold. Better-than-expected US Durable Goods Orders proved the catalyst for the corrective move. The Dollar Index (USD/DXY) was up 0.56% to 93.923 (93.516 yesterday) at the close.