According to TradingView data, the U.S. Dollar Index , which assesses the dollar's performance against a basket of major world currencies, registered a 0.45% decline from Thursday's high of 105.73 to 105.25.
"U.S. rates seem to have peaked on April 30, with minus 20bps for the U.S. two-year yield, to price lower growth, the DXY is down 1% and bitcoin is up 8% since then," Nansen.ai Principal Research Analyst Aurelie Barthere told The Block. The increased expectation of a Fed interest rate cut and a lower DXY could prompt investors to move capital out of safer assets like bonds and into riskier assets like equities and cryptocurrencies like bitcoin.
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