Amid the ongoing gains of the US Dollar Index (DXY), several factors including strong US economic data, Trump's poll lead, and China's stimulus are driving the dollar above 103.20.
The Federal Reserve's rate cuts, despite expectations for a slower pace, are currently propelling the dollar. Positive incoming economic data may support further stability for the USD.
Trump's lead in presidential polls could fuel stronger support for the dollar, as his economic policies known for protectionism are perceived favorably by the markets.
China's 4 trillion yuan stimulus plan, while not meeting initial expectations, is seen as a move towards stabilizing its economy; this can have indirect effects on the USD.
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