• The US Dollar Index soars above 106.50 on Monday.
• DXY surges higher driven by Trump's warnings on tariffs against BRICS nations
• Strong November ISM manufacturing PMI helps the USD.

The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, has surged above the 106.50 level on Monday, the first trading session in December. This move higher has been driven by several factors, including news that US President-elect Donald Trump favors imposing tariffs on goods from Brazil, Russia, India, China and South Africa and other nations interested in joining a future BRICS currency. Strong PMI data from November from the ISM has also helped the DXY get a boost.