DXY: US dollar index under pressure as focus shifts to Biden agenda

The US dollar index (DXY) is down by more than 0.15% as traders react to the outcome of the US election. It has declined for the past three consecutive days and is trading at $92.18, which is the lowest it has been since September 2. Biden elected president Joe Biden was declared the winner of the US election on Saturday after he crossed the vital 270 electoral college votes. He is now the president-elect until he is sworn in on January 20. The dollar index has been falling after it became clear that he was extending the lead next week.