DXY The dollar index extended gains to above 107, its most substantial level since November, and tracking Treasury yields higher, as hawkish comments from Fed officials continue to strengthen the expectation that interest rates will remain elevated for an extended period. Meanwhile, economic data continues to signal a resilient economy, with the ISM Manufacturing PMI indicating the most minor contraction in factory activity in nearly a year for September. Several labor market indicators, including the upcoming payroll report and further comments from Fed officials, will be closely watched in the coming days. The dollar strengthened against all major currencies, with the most pronounced buying activity against the Aussie, after the Reserve Bank of Australia held interest rates steady. The greenback also appreciated against the Japanese yen and the British pound.
The United States Dollar Index or DXY measures the performance of the dollar against a basket of other currencies including EUR, JPY, GBP, CAD, CHF, and SEK. The EUR is, by far, the largest component of the index, making up 57.6% of the basket followed by JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), and CHF (3.6%).
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The United States Dollar Index or DXY measures the performance of the dollar against a basket of other currencies including EUR, JPY, GBP, CAD, CHF, and SEK. The EUR is, by far, the largest component of the index, making up 57.6% of the basket followed by JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), and CHF (3.6%).
If you like it, hit the like button and share your charts in the comments section.
Thank you.
