The US Dollar Index (DXY) broke above 99 for the first time in 20 months, rallying nearly 4% in less than month, as the Ukraine-Russia war has seen traders flock to safe-haven assets. However, USD also been supported higher this year by the prospect of interest rate hikes, as record-high inflation has sparked on-going speculation of how aggressive the Federal Reserve’s tightening cycle will be.
With geopolitical tensions intensifying, and US inflation data due on Thursday, can we see DXY break 100 this week?
Check out this article for an in-depth analysis into the greenback: