Usman Salis
⬤ The U.S. Dollar Index just hit its lowest mark since March 2022, now trading around the 96 level. The sustained selling pressure has been building for months, with the daily chart showing a clear pattern of weakness that's finally pushed the index down to multi-year lows.
⬤ The numbers tell the story: over the past year alone, the dollar has shed more than 10 percent of its value. Starting from above 99 earlier in the period, the index has been carving out lower highs and lower lows in a textbook downtrend. We're now looking at price levels the dollar hasn't seen in almost three years.
⬤ Recent trading shows sellers are completely in charge right now. Every time the index tries to bounce back, it gets smacked down harder. The latest sessions saw a sharp drop that punched through previous support zones, landing the dollar firmly in the mid-96 range. Short-term rebounds keep failing, which tells you all you need to know about the current momentum.
⬤ This move matters for everyone watching financial markets. The U.S. Dollar Index is a global benchmark that affects everything from currency flows to commodity prices. With the index sitting at a multi-year low, the big question now is whether 96 becomes the floor or if there's more pain ahead for the greenback.
Usman Salis
