The US Dollar, measured by the DXY index, continues its upward trend.
US Dollar maintains momentum ahead of Fed decision and labor market update. US JOLTs and CB Consumer Confidence figures exceed expectations. Fed is expected to stay data-dependent and keep possibilities open for a September cut. Despite uncertainties hanging in the air over the Federal Reserve’s next steps, optimism about the robustness of the US economy is helping the Greenback to gain ground.
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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