DXY idea The US dollar index continues its recent move higher, aided by a weaker Euro and Japanese Yen. The Euro is still feeling the effects of last weekend’s European Parliamentary Elections and expectations of further rate cuts this year, while the Japanese Yen moved lower after the Bank of Japan said that it would pare back its bond-buying program but the market would have to wait until the July 31st meeting for any details. The Euro (58%) and the Japanese Yen (13.6%) are the two largest constituents of the six-currency index.