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The US Dollar Index continued to rise, closing up 0.11% on January 8th at 98.683. This rally reflects the dollar's strong position in the foreign exchange market.
Looking at specific currency pairs, the performance varies. The euro was relatively weak, with 1 euro exchanging for 1.1682 USD, down from 1.169 in the previous trading day. The British pound also retreated, with 1 GBP exchanging for 1.3464 USD, down from 1.3502 USD the day before. The Japanese yen depreciated, with 1 USD exchanging for 156.74 JPY, higher than the previous 156.63 JPY.
The Swiss franc and the Canadian dollar both depreciated against the dollar. The Swiss franc was at 0.7975 CHF per USD, up from 0.7954. The Canadian dollar showed a more noticeable increase, with 1 USD exchanging for 1.3845 CAD, up from 1.3805. In contrast, the Swedish krona appreciated slightly, with 1 USD exchanging for 9.1819 SEK, below the previous 9.1966.
Overall, the dollar maintained its advantage amid this round of forex volatility, with major developed economies' currencies generally under pressure. For traders monitoring global financial trends, these exchange rate movements also indirectly influence liquidity and risk appetite in the crypto market.