The dollar index (DXY) slid to 95.5 at the start of the year before rising above 101 by mid-year, up nearly 3% in 1H. Major pair moves in 1H: EUR/USD -2.7%; GBP/USD -1.4%; USD/CAD +3.4%; USD/CHF +2.0%; USD/JPY +3.8% (yen at a 40‑year low); NZD/USD -1

2026-07-01

The dollar index (DXY) slid to 95.5 at the start of the year before rising above 101 by mid-year, up nearly 3% in 1H. Major pair moves in 1H: EUR/USD -2.7%; GBP/USD -1.4%; USD/CAD +3.4%; USD/CHF +2.0%; USD/JPY +3.8% (yen at a 40‑year low); NZD/USD -1.4%; AUD/USD +3.7% (notable outperformance). Offshore yuan (CNH) gained 2.7% vs USD. USD/RUB fell 0.5%. USD/MXN dropped nearly 3%, supported by elevated Mexican domestic interest rates.