Cryptocurrency exchange FTX has listed perpetual futures linked to the US dollar spot index, and it is expanding its business scope to the field of foreign exchange derivatives trading.
The FTX USD Spot Index (FTXDXY) is calculated as follows: 35.7*EURUSD^-0.6*JPYUSD^-0.2*CADUSD^-0.1*GBPUSD^-0.1
On the other hand, the foreign exchange market volatility has increased significantly recently. Driven by the tightening of monetary policy and the rapid interest rate hike in the United States, the US dollar is currently at its highest level since 2022, especially after the Federal Reserve raised interest rates several times.
The US dollar index broke through 111 level, refreshed a new high since 2002 and is currently hovering around the all-time high of 111.76.
Non-US currencies generally fell. As the dominant currency in global trade and finance, the fluctuation of the US dollar will broadly impact the global economy.
Given that Bitcoin (BTC) is still seen as a risk asset against...
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