US Dollar edges higher due to positive economic figures

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• The US Dollar cleared Monday’s losses, and the DXY Index jumped above 106.00.
• The S&P Manufacturing and Services PMI rose to expansion territory above 50.00 in October.
• US Treasury yields recover, allowing the USD to find demand.

The US Dollar (USD) measured by the US Dollar Index (DXY) rose toward 106.30 on Tuesday, seeing nearly a 0.50% gain. While Europe’s S&P PMIs came in weak, the American figures beat expectations, and the US economy appears to be holding onto resilience, which is strengthening the green currency. In addition, US Treasury yields recovered, favouring the upward momentum.