Whatever happens by the close tonight it has been a great Q4 for the Dollar index (USDX)

The Dollar index (USDX) peaked at 114.77 back in 2022. The price action since then has seen it fall briefly below 100 back in 2023. Earlier this year towards the end of September, the index hit a low just above 100, at 100.15. Well, since then it has been a great Q4 for the US currency. The index has lifted more than 800 points, reaching a 2024 high at 108.54 on December 20. The next major technical level, yet to be reached is in place at 108.97 and that will not be seen this side of 2025. Looking forward to next year the big question; will the Q4 trend higher be replicated in Q1 2025? Well, much has been made here in the past about the quarterly cyclicality of the dollar price action and more usually a Q4 recovery might give way to a Q1 relapse. That is certainly possible, but at the same time not guaranteed. There will be more to add on the Q1 outlook next week. Meantime, the Dollar index is edging back a little this morning, currently trading underneath the 108 handle