DXY Closes Another Day in Losses

The Dollar Index (DXY), which measures the performance of the U.S. Dollar (USD) against a basket of six major currencies, continued its downward trend on Wednesday.

DXY settled lower by 0.21% at 93.43, after moving throughout the day between 93.27 and 9.91 and closing Tuesday at 93.63.

The absence of positive economic data, other than the decline in the public budget deficit, meant that the USD continues to lack a support factor to make up for its recent losses.

Meanwhile, a highly-awaited second stimulus package does not seem to be coming anytime soon due to differences between Republicans and Democrats in Congress.

The USD is down by 0.34% and 0.15% against the Euro (EUR) and the British Pound (GBP), respectively, while its biggest loss is against the rising Swiss Franc (CHF) by 0.55% and the biggest gains are against the declining Japanese Yen (JPY) by 0.33%.