Forex
Dollar Index Breaks Above 102.00 Amid Ongoing Geopolitical Tensions
The United States Dollar Index (DXY) continues to hold strong, breaking above the 102.00 mark for the fifth consecutive day and nearing its March 2025 high.
This comes despite a slight receding of bets on an October Fed rate hike, as oil-driven inflation fears continue to support the USD and limit corrective pullbacks in US bond yields.
As traders await the key US Nonfarm Payrolls (NFP) report, expected to show a notable slowdown in job additions, geopolitical risks remain elevated due to the ongoing US-Iran standoff.
The Institute of Supply Management's latest survey revealed that economic activity in the manufacturing sector expanded for the ninth consecutive month, with raw-material prices increasing for a 24th straight month.