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2025-09-18 19:28:06
[US Dollar Fragile, Beware of Downside Risks] ⑴ Following the Federal Reserve's first interest rate cut in months on Wednesday, the US dollar index fluctuated on Thursday, as investors digested the Fed's cautious stance regarding further rate cuts. ⑵ Data showed that the US dollar index (DXY) briefly fell to 96.224, its lowest point since February 2022, following the rate decision, but quickly rebounded, recouping most of the losses by the close. ⑶ Technically, the US dollar index remains trapped below the daily cloud, currently ranging between 98.311 and 98.516. ⑷ The 14-day momentum indicator remains negative, highlighting a bearish technical pattern. ⑸ Unless the US dollar index can effectively break through and stabilize above the daily cloud, the overall bias remains downward, with the potential for further declines and an eventual test of the 2022 low of 94.626.
