DXY: US dollar index spikes as Fed warns about risks to the US economy

The US dollar index (DXY) rose in overnight trading as the market reacted to the Federal Open Market Committee (FOMC) minutes. The index is now trading at $92.95, which is its highest level since Tuesday this week. It is also higher than yesterday’s low of $92.15. US dollar has been under pressure The dollar index has been under pressure in recent months. It has moved from a multi-year high of $102 to a low of $92.15, which is its lowest level in more than two years. There are several reasons behind the dollar weakness. First, the number of coronavirus cases