The US Dollar (USD) sold off sharply on Wednesday, as investors continued to digest the largely anticipated rate cut by the Federal Reserve, while the updated “dots plot” surprised no one.
The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades flat around 99.45 during the early European trading session on Tuesday. The USD Index has turned sideways after bouncing back from the monthly low around 99.00, revisited on Monday.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after three days of losses and trading around 99.60 during the Asian hours on Friday.