Tuesday brought a moderate recovery to the dollar after falling in the previous session. The dollar index, which takes into account its ratio to a basket of six other currencies, rose 0.2% at 106.44. Over the past week, the index has grown by 1.6%, marking six weeks of growth out of the last seven and reaching the highest level in more than a year. The sharp strengthening of the dollar by almost 7% during this time has become one of the most significant since the summer of 2022. Analysts note that the current positioning is the main threat to the dollar, although seasonal factors may also affect its dynamics. Due to the lack of important economic data in the United States this week, all attention is focused on the upcoming appointment of ministers in Donald Trump's cabinet. The choice of the US Treasury Secretary is especially important for financial markets. A candidate with an impeccable reputation will be favorably received by bond markets, while candidates with less experience or those who may not support some of Trump's plans may provoke a sell-off of US debt instruments and possibly weaken the dollar.
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