The US Dollar Index (DXY), which tracks the performance of the USD against six major currencies, has experienced a pullback after four consecutive days of gains. As of Monday during European trading hours, the index is hovering around 98.80, having recently broken below the critical 99.00 level.
Market participants are closely watching the 50-day EMA support, which could influence the exchange rate dynamics for the USD. This decline may impact major currency pairs, including the USD/EUR and USD/JPY, as traders reassess their positions in light of shifting sentiment and economic indicators. The movement of the DXY reflects broader trends in the forex market, signaling potential volatility ahead.
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Data Source: FX Killer Analysis Team Updated: 2026-01-12 09:32
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.