U.S. Dollar Index Holds Above 104 Ahead of FOMC
The U.S. dollar index has been making upward strides over the last couple of months. A recent post by TradingView revealed that the DXY has been hovering in the 104-105 bracket of late, up from mid-July’s low of 99.5. In fact, the current level is quite close to the index’s six-month high figure of 105.43 created towards the end of last week. A rising dollar index is usually considered to be a good sign for Americans because it offers them greater purchasing power. The Dollar has been on a run. 👀 pic.twitter.com/YtNtsvDeUJ — TradingView (@tradingview) September 18, 2023 Also Read: Solana Co-founder: U.S. Govt. Should Invest in Blockchain The U.S. dollar index typically measures the currency against six major counterparts, including the euro, Swiss franc, Japanese yen, Canadian dollar , British pound, and Swedish krona. DXY ’s strength will yet again be put to the test this week. The U.S. Fed ’s interest rate decision is due soon. In...