The US Dollar Index (DXY) has climbed above 98.50, currently trading around 98.60 during the Asian session on Monday. This increase marks the second consecutive day of gains, driven by rising tensions between the US and Venezuela, which have heightened demand for the USD as a safe-haven asset. The strengthening dollar is impacting several currency pairs, influencing exchange rates across the market.
Traders are closely monitoring the upcoming ISM Manufacturing PMI data, with expectations that it could provide further insight into the health of the US economy. A stronger-than-expected PMI reading may bolster the dollar further against major currencies like the EUR and JPY, while any disappointing data could lead to a reversal in the current upward momentum of the USD.
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Data Source: FX Killer Analysis Team Updated: 2026-01-05 03:55
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.