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DXY to Settle Lower by 0.8%

M. Ali 28 July, 2020 1:00 am Forex Market, Market Update

The Dollar Index (DXY), which measures the performance of the US Dollar (USD) against a basket of major international peers, declined on Monday, due to the rising number of COVID-19 cases in the United States.

Meanwhile, the market is anticipating the Congress passing a new economic stimulus package, as well as the Federal Reserve next FOMC meeting.

The USD showed a weak performance across the board.

DXY is currently down by 0.80% at 93.68, after moving in a range between 93.48 and 94.42, noting that it closed last week at 94.44.

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