The US Dollar Index (DXY) is seeing some losses on Monday as US markets remain closed for the Memorial Day break.
Data on US income, spending, consumer confidence, and Q1 GDP will shape the index’s trajectory this week. Fed's Beige Book report on Wednesday is anticipated to suggest a balanced economic backdrop. Investors anticipate less than 80% odds of November rate cut and 50% chance of cut in September. The US Dollar Index is seeing some losses on Monday as US markets remain closed for the Memorial Day break.
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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