US Dollar Index Advances towards 102.00 on Hawkish Fed Bets and First Republic Woes
The US Dollar Index (DXY) has been in a bullish trend since the beginning of 2023, as it has been supported by the hawkish stance of the Federal Reserve and safe-haven demand amidst market uncertainties. The recent pullback in late Friday’s trading session was quickly reversed during the early hours of Monday, as the market fears surrounding the First Republic bank and the hawkish Fed bets supported the DXY’s safe-haven appeal.