Breaking: DXY jumps to two-month highs at 98.30 on upbeat PMI figures

FXStreet Team FXStreet

The Institute for Supply Management's (ISM) Non-Manufacturing PMI in January arrived at 55.5 after printing 54.9 in December and came in slightly better than the market expectation of 55.

Underlying details of the ISM report revealed that the Employment Index fell to 53.1 from 54.8 and the New Order Index registered 56.2 to miss analysts' estimate of 58.

Additionally, the IHS Markit's Services PMI in January's final reading rose to 53.4 from 52.8 in December and the Composite PMI improved to 53.3 to beat the market expectation of 53.1.

The greenback preserves its bullish momentum following the PMI figures with the US Dollar Index jumping to its highest level since early December at 98.30. As of writing, the index was up 0.35% on the day at 98.28.

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