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Dollar index (USDX) eyeing that 110 handle again as European markets get underway

As noted here on Friday the Dollar index (USDX) came very close to rising above the 110 handle for the first time since the end of 2022. The index reached a high on Friday at 109.966. It could not hold all that gain into the US close though, ending the session and the week at 109.64. The price action today has seen it push higher again, as the Pound and the Euro fall back further versus the dollar. So, the index reached a new post 2022 high earlier, at 109.977. It surely would have taken out that 110 handle earlier had it not been for the price action in the USD/JPY. The USD/JPY is a major component of the dollar index, but the Euro remains by far the largest component (57%). Leaving that Yen outperformance to one side, that 110 handle remains firmly on the radar again at the start of this week 
 

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