Cautious Fed officials and robust Q2 growth limits the USD downside. Markets continue to bet that the easing cycle will start in September. If data continues to underperform, the Fed might consider a July rate cut. The US Dollar Index is currently trading at 104.50, maintaining a neutral stance. Strong The overall Q2 growth backed by the Federal Reserve’s cautious stance has offered mild gains to the US Dollar at the end of the week.
US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.