The US Dollar Index (DXY) measures the strength of the US dollar against a basket of six major currencies:
EUR — Euro (largest weight)
JPY — Japanese Yen
GBP — British Pound
CAD — Canadian Dollar
SEK — Swedish Krona
CHF — Swiss Franc
📈 What does DXY at 98 mean?
A reading of 98 indicates that:
👉 The USD is relatively strong compared to its historical reference level.
👉 A +0.04% move is mild, signaling stability rather than a sharp shift.
🌍 Market impact
🔻 1. Risk assets (stocks & crypto)
Typically:
Stronger USD → slight pressure on risk assets
Weaker USD → supportive for risk assets
Given the small move, the short-term impact is limited.
🪙 2. Crypto market
A firm USD can:
Reduce risk appetite
Lead to mild downward pressure on crypto
But again — 0.04% is minor, so effects are mostly psychological.
🛢 3. Commodities (gold, oil)
A stronger USD often:
Makes commodities more expensive for foreign buyers
Slightly weighs on gold and oil
But the impact here should be moderate.
📌 Quick takeaway
✔ DXY at 98 + 0.04% daily rise = a modest strengthening of the USD
✔ Risk assets may see mild pressure, but no major shock
✔ Signal is neutral-to-slightly-bearish for crypto & commodities