Dollar Surges to Two-Week Highs as Risk Appetite Fades
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| 2026-02-06 16:40Abstract：The US Dollar is set for its strongest weekly performance since November, driven by global risk aversion that is simultaneously pressuring gold prices and emerging market currencies.
The US Dollar index climbed to a two-week high on Friday, positioning the greenback for its strongest weekly performance since November. The rally is being fueled by a resurgence in global risk aversion, characterized by a sharp selloff in the technology sector.
Gold and EM Currencies Under Pressure
The stronger USD has exerted significant downward pressure on commodities. Gold (XAU/USD) is on track for its second consecutive weekly loss as equity market volatility persists.
- Asset Performance: XAU/USD under pressure due to USD strength.
- EM Impact: Notable weakness in the Nigerian Naira amid risk-off sentiment.
- Market Driver: Global liquidity tightening and Fed related safe-haven demand.
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