USD Rally May Be Nearing Its End as Gains Stretch Too Far

USD uptrend looking ripe for consolidation or correction as streaks of gains rarely stretch into double digits.
Broad USD index (BBDXY) down on week, signaling consolidation may develop.
USD stretching spread-based gains significantly vs fair value per simple model.
No obvious bearish cues for USD, but could steady ahead of next week's FOMC decision.
Markets eyeing FOMC decision next week as USD drifts and risk mood improves.

fxstreet.com

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9/26/2023

Dollar Hits 10-Month High But Impact on Bitcoin Unclear

The Dollar Strength Index (DXY) reached a 10-month high, indicating growing confidence in the USD compared to other fiat currencies; however, concerns about the surge in demand for the USD potentially impacting Bitcoin and cryptocurrencies are not necessarily interconnected.