Dollar Index Breaks Key Support Level
New data shows the Dollar Index (DXY) has fallen below the 98 psychological threshold for the first time since December 30 last year. Analysts note that the weakening trend of the US dollar continues, with currency movements reflecting shifting investor sentiment in global markets.
Potential Factors Behind Dollar Weakness
The decline in the dollar is influenced by multiple factors including stronger-than-expected performance in non-US economies, evolving Federal Reserve policy expectations, and changing global investment patterns toward dollar-denominated assets.
- Non-US economies showing improved momentum
- Fed rate hike cycle nearing completion
- Global capital allocation patterns shifting
This break below 98 may mark a significant turning point for the dollar's trajectory, warranting close monitoring of market developments.