Charts of the Week -The Dollar That Just Won’t Quit
We’ve been warning that USD strength is one of the biggest headwinds for markets, including BTC and crypto. As BTC struggles to keep its head above $40K, the US Dollar Index (DXY) just broke 100 for the first time in almost two years. The greenback is now on the verge of a multi-decade breakout as two of its major currency pairs (EUR and JPY) are both vulnerable of technical breakdowns of their own. The EUR and JPY make up ~70% of the DXY Index.