fxstreet.com 02 Feb, 2021 16:45 am

DXY hits two-month highs above 91.20

The Dollar Index (DXY), a trade-weighted basket of major USD exchange rates, hit two-month highs on Tuesday, printing highs of 91.287 and surpassing t

The Dollar Index (DXY), a trade-weighted basket of major USD exchange rates, hit two-month highs on Tuesday at 91.The Dollar Index (DXY), a trade-weighted basket of major USD exchange rates, hit two-month highs on Tuesday, printing highs of 91.00 figure and onto current levels at two-month highs.AUD/USD is also seeing substantial weakness after a more dovish than expected Reserve Bank of Australia meeting during the Asia Pacific session where the bank announced an extension of its QE programme beyond at a rate of AUD 5B per week up to AUD 100B.

Driving the day The factors driving US dollar outperformance on Tuesday are not quite clear, especially given that US stocks and crude oil markets both trade firmly on the front foot – It is unusual to see stocks and crude (both risk assets) doing well whilst the US dollar (seen as a safe haven) also does well.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.

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