The dollar hovered near multi-week lows versus major peers on Tuesday, weighed by subdued Treasury yields ahead of the Federal Reserve's policy decision this week, while the yen hardly budged after the Bank of Japan kept its policy on hold. The safe-haven greenback was also out of favour after world stocks started the week hitting a record high, amid increasing investor confidence in a rapid global recovery from the pandemic.
The dollar doesn't seem to have the strength it had earlier this year. It had been driven by various expectations, such as massive fiscal spending and speedy vaccinations in the States. Most of those appear to have been priced in.
The Dollar Index market is giving friendly signals for rallies to attack the 91.29 - 91.41 swing high. A close over 91.41 should spark moves to a previous weekly downturn level around 91.80. Any minor corrections should fight to hold stable off the low 90.68. A close under 90.61 is needed to turn trend forces down.