The US Dollar, measured by the US Dollar Index (DXY), regained some ground on Monday, hovering around 101.00 after it had plummeting last week.
US Dollar recovers after declining on Friday due to Powell's dovish remarks. Markets anticipate 100 bps of easing by year-end and 200 bps total over the next 12 months. Focus turns to PCE data later this week. The US Dollar, measured by the US Dollar Index , regained some ground on Monday, hovering around 101.00 after it had plummeting last week.
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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