DXY Falls Sharply

12 Eyl 2022

The DXY has fallen sharply. Hawkish rhetoric from the ECB has boosted the Euro, which resulted in the strongest rally in six months. Note that the Euro is weighted significantly higher than other currencies in calculating the DXY. We have smashed through several levels in the 109's and are finding support at the very base of the 108's. We appear to be hanging on by a thread, and if 108.00 does not hold then 107.20 is the next target.