The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against other six major currencies, extends its losses for the second successive day, hovering around 102.10 during the Asian hours on Monday.
The US Dollar Index extends its losses following the dovish comments from Fed officials. San Francisco Fed President Mary Daly emphasized that the US central bank should reduce rates gradually. The decline in the US yields contributes to the weakening of the Greenback. The US Dollar Index , which measures the value of the US Dollar against other six major currencies, extends its losses for the second successive day, hovering around 102.10 during the Asian hours on Monday.
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. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
Unitedstates Fed Macroeconomics
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Dollar Index declines toward 103.00 due to dovish Fedspeak, lower yieldsThe US Dollar Index (DXY), which tracks the value of the US Dollar (USD) against six major currencies, edging lower to near 103.20.
Read more »
US Dollar Index remains below 104.50 as traders await the US PCE Price IndexThe US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six other major currencies, retraces its recent gains ahead of the release of the US Personal Consumption Expenditures (PCE) Price Index for June.
Read more »
Cleveland Guardians, Detroit Tigers starting lineups for July 25, 2024: Game 102Gavin Williams and the Guardians take on the Tigers at Progressive Field.
Read more »
United States 102-76 Japan (Jul 29, 2024) Final ScoreGame summary of the United States vs. Japan Womens-olympics-basketball game, final score 102-76, from July 29, 2024 on ESPN.
Read more »
US women beat Japan 102-76 to open campaign for 8th straight Olympic gold medalA’ja Wilson scored 24 points and Breanna Stewart added 22 to help the U.S. beat Japan 102-76 in the Olympic opener for both teams.
Read more »
Dallas Fort Worth expected to hit 102 degrees ThursdayThe heat index is projected to stay high this weekend, with a max range of “feels like” temps from 105-110.
Read more »