Dollar Index Drops Over 1% Intrady, Hits Lowest Level Since 2022

The US Dollar Index (DXY) has continued to weaken recently, with the intraday drop exceeding 1% and falling below the crucial level of 96, marking the lowest level since February 2022.

Market Analysis

This decline is mainly attributed to a decrease in the dollar's safe-haven demand, alongside monetary policy adjustments from major global economies putting pressure on the US currency.

Outlook

• The dollar may continue to face downward pressure in the short term.
• Currencies like the euro and pound could gain strength as the dollar weakens.
• Investors should closely monitor the Federal Reserve's policy moves.