Driven by safe haven trading sentiment, the US dollar strengthened for the second consecutive trading day. The US dollar index closed up 0.5% on Tuesday to 94, the highest since July 27. The rise of the US dollar has suppressed the sharp decline of gold prices in the past two days
The continued rise of the US dollar was mainly affected by the statement of Fed officials on raising interest rates on Tuesday, and investors were more cautious about the outlook of the central bank's monetary policy in the near future. Meanwhile, on the other hand, the US dollar index fell sharply in the early stage, and the technical rebound is another key factor. Since the meeting of the Federal Reserve at the end of July, the US dollar index has formed a bottom sideways consolidation trend near 92. So, is the rise of the dollar sustainable? How likely is gold to break?
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