DXY: US dollar index under pressure as risk-on sentiment intensifies

The US dollar index (DXY) is under intense pressure as the overall risks to the global economy ease pushing forex investors to riskier assets. The index is trading at $90.71, which is the lowest it has been since April 2018. King dollar dethroned The US dollar has dropped against most currency peers in the past few months. It has dropped by 14% against the euro, 17% against the British pound, and 27% against the Norwegian krona. It has also dropped sharply against emerging market currencies like the Mexican peso, Singapore dollar, and the South African rand. This price action has