The US Dollar Index (DXY), which gauges the performance of the USD against a basket of six major currencies, is maintaining a steady position above the 98.50 level. After experiencing two consecutive days of upward movement, the index is trading around 98.70 during the Asian trading session on Thursday. This stability reflects a cautious market sentiment, as traders await further economic indicators.
Market participants are closely monitoring the implications of the DXY's current range for currency pairs such as EUR/USD and GBP/USD. The resilience of the US dollar suggests a potential consolidation phase, where traders might assess upcoming data releases to gauge the future trajectory of the exchange rate. As the market continues to tread carefully, the DXY's movements will remain pivotal for trading strategies in the forex arena.
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Data Source: FX Killer Analysis Team Updated: 2026-01-08 04:25
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.