Greg Gibbs, Director at Amplifying Global FX Capital, suggests that the USD has had a good run since around end-September as the DXY USD index against 6 major currencies is at a high since Q1 this year.
“The broader Bloomberg index against 10 leading currencies is not quite as strong, also at a high since Q1, but only around previous peaks in May and July. Two alternative USD indices against emerging market currencies show it has strengthened more modestly. An unweighted average against 20 EM currencies has the USD at a high since August. The MSCI EM equity weighted currency index has the USD at the high side of its range since August.”