The US Dollar Index (DXY) continues to strengthen, trading around 98.90 during the Asian session on Friday. This marks the fourth consecutive session of gains for the DXY, which evaluates the USD against six major currencies. The upward momentum comes as traders prepare for the crucial Nonfarm Payrolls report, anticipated to provide insights into the health of the US labor market.
Market participants are keenly watching the exchange rate as the dollar's rise could impact various currency pairs, including EUR/USD and GBP/USD. A robust payroll figure could bolster the USD further, potentially pushing the DXY towards the 99.00 mark. Conversely, weaker-than-expected job growth may lead to volatility in the forex market, affecting trading strategies and positions across the board.
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Data Source: FX Killer Analysis Team Updated: 2026-01-09 03:39
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.