The US Dollar Posts Largest One-Day Gain in July, Gold and Silver Plunge Weighing on Commodities-linked Currencies
BlockBeats News, January 31, Friday: The US dollar surged significantly, marking its largest single-day gain since July, as the plummet in gold and silver prices weighed on currency exchange rates from the Australian Dollar to the Swiss Franc. The US Dollar Index (DXY) ended the tumultuous month with a gain of around 0.9%.
During this period, the index experienced significant volatility due to Trump's policies. The dollar's Friday rebound was supported by the fall in precious metal prices and the impact of Trump's selection of Wash as the Fed chair. However, the index still fell by about 1.4% in January, making it the worst-performing month since August.
"Overall, market sentiment is quite tense," said Catherine Brooks, research director at XTB. "The dollar depreciation trade has currently been put on hold, but that doesn't mean the trade is over." The Australian Dollar, Swiss Franc, and Swedish Krona (currencies affected by precious metal prices) led the G10 currencies lower. Silver saw its largest single-day price drop ever, while gold experienced its largest drop since the early 1980s, ending the previous uptrend. (FXStreet)
You may also like
Stablecoins are the "royalists" of the crypto world: Open USD brings the old currency system into play
Semiconductor stocks plummet, yet Anthropic wants to create a 2nm chip
Where is Zhao Changpeng's billion-dollar investment going? YZi Labs' investment landscape fully revealed
Ethereum Foundation Report: A Basic Guide to Ethereum for Governments and Financial Institutions
A pre-announced harvesting case: After the cryptocurrency price dropped by 99%, the public chain Saga exited to transform into AI
When American giants collectively "defect" from Chinese AI models
BIS Report Compliance Observation: The Real Risks of Stablecoins, Not Just "Depegging"
Portugal 2-1 Croatia: Ronaldo's 20-Year Knockout-Stage Drought Ends With a Debt Finally Collected
Portugal beat Croatia 2-1 in the 2026 global football championship's knockout rounds as Ronaldo scored his first-ever knockout-stage goal, Gonçalo Ramos struck a stoppage-time winner, and VAR ruled out a late equalizer for offside.
