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DXY Has Rallied Since Sept 30

Written By: ChartChamp

October 10, 2024

The U.S. Dollar Index has experienced a strong rally since bottoming out around $100. A strong DXY is usually bearish for financial markets so the stock market should not be showing so much strength while the DXY is rallying. DXY’s rally could also be one of the factors for crypto’s selloff. I think DXY is starting to cool down a bit here, but it will be important to see if DXY starts to trend back down so that crypto can experience some upside.

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