The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades almost flat around 106.70 at the time of writing on Tuesday while other asset classes are facing big moves. Investors are piling into safe-haven bonds, with US yields dropping lower.
Meanwhile, equities are going down with negative performances in all major indices across Asia and Europe, also including US futures.
The rout comes after the US President Donald Trump administration gave more details on its plan to toughen semiconductor restrictions over China.
In addition, the United States (US) is asking allied countries to impose tariffs as well on China in order to corner the country. Trump wants to slow down Chinese technological development, Bloomberg reports.
The US economic calendar is starting to bear some interesting data points. The Consumer Confidence for February and the Richmond and Dallas Fed Manufacturing indexes are all leading sentiment indicators that could give some insights about the current US activity. Later in the day, Fed Vice Chair for Supervision Michael Barr, Richmond Fed President Tom Barkin and Dallas Fed President Lorie Logan are set to speak.
Source: FXStreet
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