The Dollar Index is moving sideways today after gaining more than 1% yesterday, settling near the 105.1-point level. The dollar's cautious movements today come with the uncertainty caused by yesterday's inflation data, which shook the markets' hypothesis...may happen in the Middle East in the coming days with escalating warnings.
In addition to all of this, the markets are closely monitoring what is happening in the Middle East, with military actions escalating day after day, even on the first holyday of Eid al-Fitr, which has ignited fears about the possibility of expanding the current fronts...encourage the US dollar to maintain its high levels as a safe haven currency.
The ICE BofAML U.S. Bond Market Option Volatility Estimate Index (MOVE) index, which measures the level of fear in the Treasury market, saw its largest daily gain since the beginning of the year at 11% yesterday and reached its highest level in more than a month.
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