Dollar index gaining momentum from three-week low
Mumbai, Oct. 23 -- The rally in dollar index is seen gaining momentum from a three-week low on Friday, mostly supported by a falling euro. The counter slipped to 3-week low as U.S. Treasury yields fell below 5% amid weaker economic data, an equity selloff, and concerns over the returns on AI spending and its growth implications. Weaker-than-expected PMI data and concerns over social unrest and rising public debt across Europe continued to weigh on the single common currency. Data from eurozone showed private-sector growth slowed in October to a four-month low. Consumer confidence also deteriorated more sharply than expected. Apart from this, deep sovereign debt and political crisis in France continue to undermine the shared currency. Mean...
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