Dollar Bulls Lose Key Support As DXY Revisits September Lows

The U.S. Dollar Index extends its slide to the weakest level since Sept. 18, reinforcing investor demand for hard assets and alternative stores of value.

The U.S. dollar continued its decline this month, with the U.S. Dollar Index falling 1.5% to trade at its lowest level since Sept. 18, according to market data.

The weakness follows the dollar’s poorest annual performance since 2017, according to financial analysts tracking currency movements.

The Kobeissi Letter, a financial markets publication, stated that the dollar’s renewed weakness has reinforced demand for hard assets and alternative stores of value amid declining confidence in fiat currencies.

“The market’s message is consistent: own assets or be left behind,” the publication wrote in its analysis.

The U.S. Dollar Index, which measures the greenback against a basket of major currencies, has raised questions among market observers about whether the currency has entered a broader downtrend.

Financial analysts have noted increased investor interest in alternative stores of value as the dollar’s weakness persists, according to market reports.