Dollar Index most likely on its biggest weekly boost since April end

The dollar index of some of the currencies bumped up considerably earlier on Tuesday. The dollar had seen quite a low in this month due to other countries getting at par with the US vaccination rates, index was about 3% lower.

The dollar has been gaining up on other currencies in this week, Euro had lowered by 0.3%, Japanese Yen has fallen down due to some reasons majorly including the pandemic.. The Chinese Yuan has been picking speed considerably and gradually.

According to Rahul Gupta, the ‎Head of Research Currency at ‎Emkay Global Financial Services- “Previously, traders were betting on faster European economic growth compared to the US but with the rapid increase of the coronavirus cases in the Europe it seems that bets for more dollar strength are increasing.”