Analysis of the Dollar Index by the Mallicast team.

30 Ogo

The US Dollar Index (DXY) has recently managed to break its previous high, indicating a relative strengthening of the dollar against other major currencies. This upward move could be attributed to various factors, such as strong economic data, expectations of a rate hike by the Federal Reserve, or volatility in global markets. However, following this increase, the Dollar Index is expected to enter a range-bound phase in early next month, oscillating within a specific price range. This consolidation period may occur due to profit-taking by traders, a lack of new strong catalysts, or uncertainty regarding the future direction of monetary and economic policies. Therefore, traders and analysts should closely monitor upcoming economic and political developments to make informed decisions for their positions in the market.