Dollar index hovers near 107 mark as steady recovery extends

The US dollar index edged up from a two month low amid a recovery in US benchmark treasury yields. A report released by the Federal Reserve Bank of New York on Tuesday showed a turnaround by regional manufacturing activity in the month of February. The New York Fed said its general business conditions index jumped to a positive 5.7 in February after slumping to a negative 12.6 in January, with a positive reading indicating growth. Dollar index moved up steadily yesterday and currently quotes at 106.94, up marginally on the day. It has recovered from a near two month low but is well off its three week high around 110 recorded at the start of the month.

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