Currency Buzz: DXY Struggles To Regain 96-Mark

25 Jan 2022 , 11:29 AM

The US dollar is seen hovering near a two-week high in early trades on Tuesday after briefly crossing 96 mark overnight amid escalating political worries about a potential military conflict in Ukraine and with all focus turning towards the upcoming Fed policy decision. The Fed begins a two-day policy meeting later in the global day, and investors will be anxious for any hints on the timing and pace of rate hikes, as well as about how fast the central bank will shrink its more-than $8 trillion holdings of Treasuries and mortgage debt. Meanwhile, the safe haven currency gained impetus amin ongoing worries about both a potential military conflict in Ukraine. The dollar index, which measures the greenback against six major peers was up at 95.99, after climbing as high as 96.135 overnight for the first time since January 10.

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