This comes after a significant political event in the US, which has led to increased USD strength. Additionally, recent economic data and market expectations regarding future monetary policy have contributed to the USD’s rise.
Key points:
- USD Strengthens: The US Dollar Index (DXY) has broken above the 105.00 level, its highest point since early July.
- Political Impact: The recent political developments in the US have positively impacted the USD, with the market anticipating potential policy changes.
- Economic Outlook: The economic calendar is relatively quiet, allowing market participants to focus on the political situation and its implications for the USD.
- Market Sentiment: Market sentiment is mixed, with some assets benefiting from the political developments while others face uncertainty.
- Technical Analysis: The DXY is currently testing key resistance levels, with potential upside targets at 105.53, 105.89, and 106.52. On the downside, 104.63, 104.00, and the 200-day SMA at 103.85 are key support levels.
