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Dollar index rises near 102 amid safe-haven flows

FXStreet reports the DXY traded around 102.20 as rising US Treasury yields and Middle East conflict concerns supported demand for the dollar.

Reported · Written up by our desk · Major Pairs

The US Dollar Index, which measures the dollar against a basket of six currencies, traded near 102.20 in early Asian trading on Monday, supported by safe-haven demand, according to FXStreet.

Traders said the dollar’s strength also reflected rising US Treasury yields, alongside conflicts in the Middle East and fiscal worries in France that helped drive flows into the greenback, the outlet reported, citing Ebury’s Matthew Ryan.

FXStreet noted that market participants were waiting for the US ISM Services Purchasing Managers Index report on Monday for fresh impetus.

The outlet also pointed to recent US labor data, saying Nonfarm Payrolls rose by 29K in September versus 133K in August, and the unemployment rate increased to 4.2% from 4.1%.

Latest closeDollar index 101.92 ▼0.2%

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