- DXY is well supported around 90.50/60.
- Risk-off mood boosts the demand for the dollar.
- Retail Sales decline -0.7% MoM in December.
US Dollar Index (DXY), pushes higher targeting Monday’s high 90.70.
US Dollar Index supported up by risk aversion
The index claws higher towards the yearly peaks 90.70 (January 11).
The re-emergence of a risk off tone is underpinning the USD despite President-elect Biden unveiling $1.9 trillion stimulus plans to support the economic recovery.
US Retail Sales contracted more than expected – 0.7% MoM in December.
On the bright side of the docket, December’s Industrial Production expanded 1.6% MoM and Manufacturing Production gained 0.9%.