April’s US Producer Price Index prints higher monthly reading than expected. Fed Chair Jerome Powell signals strong US economic outlook, which may delay interest rate cuts. Markets await CPI data on Wednesday to continue placing their bets on the easing cycle of the Fed. The US Dollar Index is currently trading at around 105.35, displaying minimal losses. The US Producer Price Index showed no surprise on the annual print, but monthly prices rose more than expected.
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.