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The US Dollar Index has come within a whisker of reaching and surpassing 100.00. The greenback, which recorded its highest level since May 2020, continues to gain momentum against its key rivals. The current value stands at 99.80.
The spike in the index to a two-year high is attributed to the Feds’ continued hawkish stance. The minutes of the March 15-16 FOMC meeting were released last week, with the Feds signaling their intent to continue their aggressive interest rate hike. The consensus to reduce the trillions held in bonds by $90 billion monthly seems to have pushed the dollar index higher.
Bitcoin And Other Risk-On Assets Tumble
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