The Dollar Index is on the back foot during early Wednesday trading. Recently, the dollar trade has been conditioned by two opposing views: some believe that the recovery in the United States will outpace that of other major economies, and therefore be conducive to dollar strength; while others see the prospect of a solid global economic rebound later in the year is likely to cause dollar weakness due to the unwinding of the safe haven trade. Right now, the optimism generated by the prospect of massive monetary and fiscal stimulus running alongside each other seems to be weighing down on the dollar, especially since the publication of a disappointing US jobs report that gave those advocating the case for a strong greenback reasons to reflect.
