Dollar index stays hammered under 103 mark

The dollar index is witnessing mild recovery from recently hit six month lows but still stays hammered under 103 mark on Tuesday. The greenback had gained momentum in the last couple of days on surging risk aversion amid escalating tensions of trade war and recessionary concerns. Adding to worries about a global trade war, Trump threatened to impose an additional 50 percent tariff on Chinese goods unless the country withdraws its new 34 percent tariff on U.S. goods. Trump also threatened to terminate negotiations with China even as he said his administration is in talks with "countries from all over the world" and "tough but fair parameters are being set." US benchmark treasury yields eased slightly after hitting over 4.2% yesterday. Meanwhile, dollar index that measures the greenback against a basket of currencies is quoting at 102.87, down 0.11% on the day.

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