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US Dollar Index (DXY) Rises Above the 100 Level

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US Dollar Index (DXY) Rises Above the 100 Level

Today the US Dollar Index (DXY) climbed above the psychological 100 mark for the first time in 2026, supported by a tense fundamental backdrop, with the military conflict in the Middle East acting as the main driver.

→ Financial market participants are selling riskier assets (such as equities and emerging market currencies) and reallocating funds into the US dollar, which is traditionally viewed as a safe haven during periods of war.

→ Iran’s statements about potentially closing the Strait of Hormuz, along with strikes on fuel infrastructure, are driving oil prices higher and increasing global inflation risks.

→ The strength of the US economy is also supporting the dollar. Yesterday’s labour market data showed no increase in unemployment.

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Technical Analysis of the DXY Chart

On the morning of 9 March, while analysing the US Dollar Index (DXY) chart, we:

→ updated the ascending channel (marked in blue), within which the index had set its yearly high at that time;
→ suggested that DXY price movements might begin to stabilise.

Between 9 and 12 March, the DXY chart showed a pullback followed by a renewed upward move, which remained within the range defined by last week’s levels:

→ support at 98.60;
→ resistance at 99.68.

However, the developments mentioned above allowed bulls to regain momentum and extend the rally within the blue channel. In other words, if the earlier fluctuations between these levels reflected a balance between supply and demand, then today, 13 March, buyers appear to be taking the initiative, showing a willingness to pay more for the US dollar.

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At present, the market looks overbought, as:

→ the RSI indicator has moved above the 70 level;
→ the price is trading above the upper boundary of the channel that had contained it since late January.

In the short term, a modest pullback cannot be ruled out, although it is unlikely to significantly alter the current market picture.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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Crypto World

Authorities Dismantle SocksEscort Proxy Network and Crypto Fraud

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Authorities Dismantle SocksEscort Proxy Network and Crypto Fraud

US and European authorities said Thursday they had disrupted SocksEscort, a malicious proxy service used by cybercriminals to hide their identities while carrying out fraud, including cryptocurrency account takeovers.

The DOJ said the service compromised at least 369,000 routers and other internet-connected devices in 163 countries, giving cybercriminals control over proxies that hid their true IP addresses.

The platform reportedly enabled crimes, including bank fraud and cryptocurrency account takeovers, since 2020. In one case cited by prosecutors, a victim in New York lost roughly $1 million in cryptocurrency.

Authorities said they seized 34 domains, disrupted about two dozen servers across seven countries and froze about $3.5 million in cryptocurrency linked to the operation.

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The network received at least $5.7 million from users

To access the proxy service, customers used a payment platform that allowed them to purchase it anonymously with cryptocurrency, according to a statement by Europol.

Investigators estimate that SocksEscort received at least 5 million euros ($5.7 million) from its users.

“Proxy services like ‘SocksEscort’ provide criminals with the digital cover they need to launch attacks, distribute illegal content and evade detection,” Europol Executive Director Catherine De Bolle said.

Source: The Hacker News

“Operations like this show that when investigators connect the dots internationally, the infrastructure behind cybercrime can be exposed and shut down,” she added.

The operation involved agencies from multiple countries

The takedown was part of a coordinated international effort that included law enforcement agencies from Austria, France, the Netherlands, Germany, Hungary, Romania and the US.

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The FBI Sacramento Field Office, the Department of Defense Office of Inspector General’s Defense Criminal Investigative Service, and IRS Criminal Investigation Oakland Field Office were among the US agencies involved. Europol and Eurojust provided investigative and operational support for the cross-border operation.

Related: Sweden probes reported leak of e-government platform source code

The DOJ also acknowledged the assistance of Black Lotus Labs, the threat intelligence unit of the US telecom company Lumen Technologies, and the nonprofit organization Shadowserver Foundation, which provided technical intelligence during the investigation.

According to The Hacker News, SocksEscort relied on malware known as AVrecon, details of which were publicly documented by Black Lotus Labs in July 2023.

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