The dollar index futures are taking a breather on Wednesday morning in Asia from recent high levels near 105 mark, although the index continues to hold close to annual high of 104.85 so far this year. US benchmark treasury yields however still hold high at 4.36% that could drag greenback higher. Currently, the dollar index futures that measure the greenback against a basket of currencies is quoting at 104.48, lower by 0.08% on the day. Continued resilience in the US economy as reinstated by JOTS job openings data that came in at 8.75 million and surpassed 8.74 million in January coupled with US factory orders that climbed more than expected 1.4% in February, recovering from a 3.4% decline in January is reducing the probability of near term Federal rate cuts. This is keeping the greenback at elevated levels. Meanwhile, all eyes are now on ADP non farms data and Powell speech due this week that could determine direction for the US dollar going forward. Fed official Daly reportedly ... Read The Rest at :