May’s PMI and weekly Jobless Claims data outperformed expectations and provided the USD with a lift. The USD is also registering gains following Wednesday’s relatively hawkish FOMC minutes. The odds of a cut in September continue to decline. The US Dollar Index is currently trading at 104.90, modestly higher, and managed to clear all its daily losses.
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.
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Source: FXStreetNews - 🏆 14. / 72 Read more »
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