DXY set off on the front foot on Monday trading close to 93.30 region.
Chicago Fed index, Federal Reserve officials speaking in the US session.
Attention will be on Fed Chair Jerome Powell’s testimonies later this week.
The US Dollar Index (DXY), which is the US Dollar versus a basket of major currencies, has rebounded from lows and is advancing to daily highs close to 93.30 .
US Dollar Index focuses on Fed Powell & risk trends
In risk off trading, the investors are seeking the safe haven properties of the US Dollar. The USD is extending Friday’s gains, pushing beyond 93.
Riskier assets are under pressure, aiding the US Dollar’s recovery which sees an initial target at 93.55/60 band (September 17).
Looking ahead, the Chicago Fed National Activity Index and a speech by FOMC’s L.Brainard (a permanent voter & dovish) will be in focus. Fed Powell’s testimonies on Tuesday, Wednesday and Thursday are expected to drive the US Dollar.
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