U.S. dollar index retreats from 20 year highs — but will DXY topping spark a Bitcoin recovery?

Cointelegraph

Published May 26, 2022 04:11AM ET

Updated May 26, 2022 06:00AM ET

The U.S. dollar index (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105.

Dollar's correction in the last two weeks preceded twelve months of relentless buying.

DXY weekly price chart. Source: TradingView
DXY weekly price chart. Source: TradingView
EUR/USD weekly price chart. Source: TradingView
The IFO survey shows robust German business confidence. Source: Bloomberg
BRL/USD and CLP/USD daily price chart. Source: TradingView
BTC/USD daily price chart featuring its correlation with DXY and EUR/USD. Source: TradingView

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