US Dollar Index: DXY pares Credit Suisse-inspired gains below 105.00, yields in focus

Credit Suisse turmoil renews market’s fears surrounding 2008 crisis, especially after SVB, Signature Bank fallout.US Dollar Index renews intraday low near 104.60 as it consolidates the biggest daily gains in a week during early Thursday. That said, the market’s inaction and the global policymakers’ rush to placate the fears emanating from the Credit Suisse turmoil seem to favor the DXY’s latest pullback.

To tame the risk aversion, the Swiss National Bank stepped forward while anonymous sources conveyed to Reuters that the US banks are less vulnerable to the Credit Suisse debacle. On the same line, also held emergency talks. Hence, the global policymakers’ rush to placate the market’s fears seem to weigh on the DXY of late.

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