USD bulls are trying to push towards the 106 round number as markets await the Fed’s Chair Powell to shed light on the future interest rate policy.

USD rally has eased in the past week, even with the mild bid seen after the blockbuster monthly jobs report and rising tensions in the Middle East.

Gold prices caught our attention on Monday morning after briefly punching above $1930 as the dollar retreated.

Ongoing concerns over China’s economic growth have sent investors rushing toward the dollar with growing bets around US interest rates staying higher for longer supporting upside gains!