USD Index Starts Inching Toward Highs Again, Société Générale Economists Say Rebound Towards 114.8 Peak ‘Is Not Ruled Out’
In 2022, the U.S. dollar has been very strong, despite the global economy’s downturn and the rising inflation worldwide. 12 days ago, the U.S. Dollar Index (DXY) rallied to a high of 114.8 and since then, the index has pulled pack and a recent analysis from economists at Société Générale notes that the index will likely rally back toward the 114.8 high. Greenback Index Starts Climbing Again After the Recent Pullback, Société Générale Economists See a ‘Prevalence of Upward Momentum’ The U.S. dollar, otherwise known as the greenback, has been a formidable foe against a myriad of fiat currencies this year. A large swathe of fiat currencies like the euro, pound, yen, yuan, and Australian and Canadian dollars have all suffered from the greenback’ ;s strength. On September 27, the U.S. Dollar Index (DXY) tapped a high of around 114.8, a height that hasn’ ;t been recorded since 2001. The DXY is an index that is levera...