The US Dollar Index (DXY), which tracks the US Dollar’s (USD) performance against six major currencies, reached 109.98, the highest level since November 2022, during the Asian hours on Monday.
The US Dollar Index climbs as the latest employment report reinforces the Fed 's decision to keep rates steady in January. Higher yields on US Treasury bonds are contributing support for the US Dollar. US Nonfarm Payrolls increased by 256K in December, exceeding expected 160K and November’s figure of 212K. The US Dollar Index , which tracks the US Dollar’s performance against six major currencies, reached 109.98, the highest level since November 2022, during the Asian hours on Monday.
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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