Dollar index turns lower on profit taking

The U.S. dollar index (DXY) is trading around 0.4% lower today after it printed a 2-month high on Friday. Investors are most likely using this opportunity to book profits, while the greenback is likely to stay bid on persisting concerns over economic recovery ahead of a stream of economic data and political changes in the United States. Fundamental analysis: Uncertainties keep supporting the dollar A recovery in U.S. stocks on Friday has helped restrain the rise of the USD, however, indications of a slowdown in the incipient recovery from coronavirus and political issues have kept investors on guard. “Last week,