Surging US dollar index puts global currencies under pressure ahead of anticipated Powell address

Quick Take

The U.S. Dollar Index (DXY) has surged to break past the 104 mark, a level not witnessed in the last eleven weeks, according to Trading Economics, painting a picture of sustained strength in the U.S. dollar.

This marks the sixth consecutive week of advances for the DXY index, indicating its robust performance amidst economic uncertainties. Today’s spotlight, however, is set on the onset of the high-profile Jackson Hole meeting.