US Dollar Index Top Six Week High, Geopolitical Concerns Soar

Published on Jan 24, 2024 12:30

The US dollar index jumped sharply yesterday amid rising geopolitical worries and elevated US 10 year treasury yields. The US forces carried out strikes in Iraq on three facilities used by Iran-backed militia, according to media reports. This comes in wake of recent missile attacked from Iranian military against targets in Syria, Iraq and Pakistan and is in general a worrisome factor for global geopolitics already battered by Israel-Hamas battle and Russia-Ukraine war. The US dollar index edged up well above 103 mark and hit a six week top of 103.60. The index currently trades at 103.22, down 0.20% on the day. Meanwhile, the US 10 year yield is holing around 4.10% mark � not far from recent four month high.