DXY: US dollar index spikes as risk aversion sets in

The US dollar index (DXY) is up slightly today as traders prepare for a relatively busy week with the US election, Federal Reserve meeting, and nonfarm payrolls happening. The index is trading at $94.12, which is slightly higher than the intraday low of $94.00. Risk aversion sets in The biggest driver for the dollar index today is risk aversion as the number of potential events rise. The biggest event this week is the US election, which will take place tomorrow. Going by the latest polls, analysts and investors believe that Joe Biden, the former vice president will win. However, they