USD Rises Ahead of Biden Inauguration

The U.S. Dollar (USD) is showing a positive performance in the early trade of the American session on Wednesday ahead of the inauguration of President-elect Joe Biden.

The Dollar Index (DXY), which measures the greenback performance against a basket of six international peers, is up marginally by 0.05% at 90.54.

The index has been moving today in a range between 90.28 and 90.61, mostly in the negative territory during the European session, but is turning to the positive.

It is expected that the economic policies of the new administration in the United States, with increased stimulus spending, alongside the easing policies of the Federal Reserve, could lead to the USD’s depreciation.