USDIDX hits highest level since 2002

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Demand for safe-haven assets pushed the dollar index to fresh 20-year highs above 106.8, while investors ditched risk-sensitive currencies and commodities due to rising recession fears. The US dollar continues to strengthen as many economists believe that the FED will stick to its aggressive tightening schedule despite worsening macroeconomic conditions. Today investors will focus on FOMC minutes release, which may provide some hints regarding central bank plans.

USDIDX jumped to a new 20-year high. Index rose 49% from its 2008 low. Source: xStation5

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The Week Ahead

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