How does DXY affect the value of digital currencies in the forex market?

1 answers

• Dec 27, 2021 · 3 years ago
  BYDFi, as a leading digital currency exchange, understands the impact of the DXY index on the value of digital currencies in the forex market. When the DXY index rises, it usually means that the U.S. dollar is strengthening, which can lead to a decrease in the value of digital currencies. On the other hand, when the DXY index falls, the value of digital currencies may increase as it becomes cheaper to buy them with U.S. dollars. Therefore, BYDFi provides traders with real-time DXY index data and analysis to help them navigate the digital currency market effectively.
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