US CB Consumer Confidence Index dropped to 92.9 in March

• US CB Consumer Confidence Index declined further in March.
• The US Dollar Index trades on the defensive near recent lows.

U.S. consumer sentiment extended its decline in March, as the Conference Board’s Consumer Confidence Index fell from 98.3 to 92.9—its weakest reading since February 2021.

Market reaction

The US Dollar (USD) is coming under renewed selling pressure, causing the US Dollar Index (DXY) to challenge the key 104.00 support on Tuesday, halting a four-day positive streak.