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DXY Recovers and Exceeds 96.8

M. Ali 10 July, 2020 12:55 am Forex Market, Market Update

The US Dollar (USD) recovered from its lowest level in four weeks and rose against most global currencies.

The Dollar Index (DXY), which measures the performance of the US currency against a basket of six major currencies, is up by 0.39% for the day at 96.81.

This comes after the index fell earlier today to the 96.30 level.

A decline in US jobless claims helped the USD achieve gains, especially against commodity-driven currencies as oil prices declined.

Markets are seeing concerns regarding the rising number of COVID-19 cases in the US and other countries.

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