The US Dollar Index dropped to 101.20, marking a monthly low as the currency faces sustained selling pressure for the second straight day following recent political developments.
The US Dollar Index is extending losses for a second consecutive day and touched 101.20 during Asian hours on Thursday, its monthly low, after a Democratic sweep. A lower DXY means the dollar is weakening against its six-currency basket, a bearish signal for the index; no rebound driver is cited.
It measures the value of the US Dollar against six major currencies.
It hit a monthly low of 101.20 during Asian hours on Thursday, with the headline citing near 101.00.
The US Dollar Index (DXY) extended its decline for a second consecutive session, hitting a monthly low of 101.20 during Thursday's Asian trading hours. The downward momentum follows a Democratic sweep, signaling broad weakness for the greenback against its basket of six major currencies.
The US Dollar Index (DXY) is a benchmark that measures the value of the US Dollar relative to a basket of six major foreign currencies.
The index is extending losses for the second consecutive day, with market sentiment currently reacting to the results of a Democratic sweep.