US Dollar strengthens ahed of Fed decision, labor market data

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• The DXY Index is exhibiting firm gains, trading near its mid-December highs around 103.75.
• Markets remain cautious ahead of the Fed’s decision on Wednesday.
• January’s NFPs are due on Friday.

The US Dollar (USD) Index soared on Monday, trading at 103.75 with gains hitting highs unseen since mid-December. This surge comes ahead of what is anticipated to be an eventful week with the first Federal Reserve (Fed) decision of 2024 on Wednesday and key labor market figures from the US on Friday.