The new trading week has begun with an increase in the US dollar. The greenback, as well as the AUD/USD pair, advanced following news from Australia. Watch our video review and find out which news has changed the trajectory of these assets.
The movements of the US dollar index are more or less in line with analysts’ forecasts. Last week, they were confident that the US currency would rise only to 96. However, in today's Asian session, the index jumped to 96.17. What stirred its growth? The main driver for the rise was the news from Australia. The country imposed tough quarantine restrictions. This will significantly undermine the business sector as the movements of people have been limited. They are not allowed outside unless they have a compelling reason. This is why the US dollar index is highly likely to continue its steady rise. Analysts believe that it may trade in the range of 95.80 - 96.30.
The dollar/yen pair is trading without a clear-cut trend. Now, it is in the sideways channel, getting stuck at the level of 114.20. It coincides with the level of last Thursday. The yen dipped following the strengthening of the US dollar. Of course, the US dollar’s growth may slow down. If so, the dollar/yen pair may drop to 114. However, the quotes are unlikely to slide below this level as there are no reasons for a considerable increase in the yen.
The Australian dollar had the opportunity to rebound and advance against the greenback. There were many reasons for it. However, Australia introduced strict lockdown measures over the weekend, which would adversely affect small and medium-sized businesses. Analysts immediately worsened the outlook for the economy and for the Australian currency. So, the AUD/USD pair may slip to 0.7220. Earlier we expected this level to be a target one.
The question is whether the US dollar index will be able to reach new highs. What do you think? Share your opinion with us in the comments down below. That’s all for now! Do not miss our next video review! See you!

00:00 Intro
00:20 USDX
01:12 USD/JPY
01:44 AUD/USD

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