DXY: US dollar index is the most oversold since February 2018

The US dollar index (DXY) is down today as investors reacted to the new developments on a coronavirus vaccine. The index is also reacting to the relatively strong producer price index (PPI) data from the United States. Russia approves coronavirus vaccine The US dollar index declined as investors reacted to news that Russia had approved the first coronavirus vaccine. In a statement, Russia’s Vladimir Putin said that scientists at Gamaleya Institute had completed early tests of the vaccine. He also said that his daughter had taken the vaccine. The breakthrough comes at a time when other countries are developing their