The US Dollar Gains Momentum
Published on: Oct 10, 2023|1 min read
London: 10 October 2023 (TraderMade): The US Dollar rose today due to the ongoing conflict in the Middle East. The safe-haven status supports the Dollar as the turbulence between Israel and Hamas continues.
On 9 October, the USD Index was 105.7675 and rose to 106.33749. The USDX gauges the strength of USD against a basket of 6 other currencies. The index was at 105.61 at press time.
As the conflict in the Middle East continues, EURUSD rose from 1.05196 yesterday to 1.05999 today. Similarly, GBPUSD rose from 1.21634 yesterday to 1.22589 today.
