標題：DXY索引（USD）反映了唐納德·特朗普的第一個學期的軌跡

在今年年初，Coindesk Research表明，美元指數（DXY）衡量了美元對一籃子主要貿易夥伴的實力，這反映了其軌跡與唐納德·特朗普（Donald Trump）擔任總統的第一任期。

The Dollar Index (DXY), a gauge of the U.S. currency against six counterparts, is mirroring its trajectory from Donald Trump’s first term, CoinDesk Research has observed.

Coindesk Research指出，美元指數（DXY）是對六個同行的美國貨幣對六個同行的衡量標準。

Between September 2024 and January 2025, coinciding with Trump’s re-election, the DXY index climbed from 100 to 110.

在2024年9月至2025年1月之間，與特朗普的連任相吻合，DXY指數從100升至110。

This current cycle, the index peaked at 110 in mid-January but has since dropped below 105 for the first time since mid-November. If the DXY were to fall to around 103, it would erase all its gains since Trump's victory in November.

當前週期，指數在1月中旬達到110，但自11月中旬以來首次下跌了105。如果DXY跌至103左右，則自從特朗普在11月取得勝利以來，它將消除其所有收益。

Typically, a DXY index above 100 is considered strong, which tends to put pressure on risk assets. However, as the index dipped below 105, bitcoin (BTC) rose above $88,000.

通常，DXY指數高於100的強度，這傾向於對風險資產施加壓力。但是，隨著該指數下降到105以下，比特幣（BTC）上漲了88,000美元以上。

A similar pattern was observed in 2017 when the DXY fell from 103 to below 90, coinciding with bitcoin’s bull run that year, that saw it top out at $20,000 in December.

在2017年，DXY從103下降到90歲以下，與當年比特幣的公牛運行相吻合，這是一種類似的模式。

Despite this, macroeconomic uncertainty persists, with concerns surrounding tariffs, inflation, and U.S. GDP growth. The economy appears to be slowing, and Friday’s jobs report is expected to show a continuation of 4.0% unemployment rate.

儘管如此，宏觀經濟的不確定性仍然存在，圍繞關稅，通貨膨脹和美國GDP增長的擔憂。經濟似乎正在放緩，預計週五的就業報告將顯示失業率為4.0％。

If the report comes in weaker than anticipated, treasury yields could continue declining, increasing the likelihood that the Federal Reserve could consider a rate cut in its March meeting.

如果該報告比預期的弱，財政收益率可能會繼續下降，這增加了美聯儲可以考慮在3月會議上降低稅率的可能性。