USD: Decline continues as pressures mount – DBS Bank

The USD faced significant challenges, suffering its worst weekly decline since May 2025, primarily due to political tensions and market interventions. The DXY Index fell to its lowest close since September, with expectations for the Fed to pause rate cuts at the upcoming FOMC meeting. Philip Wee, Senior FX Strategist at DBS Bank notes.

USD struggles amid market interventions

"The DXY needs to break a support level of 97.2 to extend its decline to the floor of the 96.2-100.5 range set since mid-2025."

"USD/CAD plunged 1.6% to 1.37 last week, near a significant trendline support around 1.3660."

"However, there has been no confirmation of actual intervention, which could limit downside follow-through in USD/JPY, unless it pushes decisively below December’s low of 154.35 and the 100-day moving average support level at 153.75."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)