US Dollar Index Drops to 100.50 Despite Bullish Bias

The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, extended its decline for a second straight session. It was trading around 100.60 in early European trading hours, approaching the 100.50 level.

The decline comes despite a prevailing bullish bias among traders. The index remains under pressure as the market digests recent economic data and policy expectations. The DXY previously showed a bullish trend, but the current price action suggests a short-term pullback.

Traders are watching for further cues from the US economic calendar and central bank commentary to gauge the next move.