The dollar index powered higher earlier today as quiet trading has lifted the dollar’s value by 1.5% in seven days.
The dollar index DXY is on track to close its seventh straight day of gains as forex traders have quietly piled their bets on the buck. Amid growing uncertainty on the interest-rate front, the US dollar moved to a one-month high of 103.70 before coming down to 103.50.
In that context, the buck has added roughly 1.5% during its seven-day increase. More importantly, it has sustained its late-December rally when the gauge rebounded from a four-month low of 100.60. Over that timeframe, traders have bumped its valuation by nearly 3%.
Across forex deals, the EURUSD early on Friday was floating near the $1.09 mark. The USDJPY jumped to a fresh 6-week high of ¥148.80, and the GBPUSD was whipsawing around $1.26. No major news is on tap for the day, prompting traders to go full technical on the charts.