The US Dollar Index (DXY) remains weak on Friday, sitting at April lows.
US Dollar continues losing ground in light of weak CPI figures and UoM data. Markets still foresee a September rate cut. Despite hot PPI data, US Treasury yields are falling, diminishing allure of USD. The US Dollar Index remains weak on Friday, sitting at April lows. This is largely a response to the soft US Consumer Price Index figures on Thursday, combined with softer University of Michigan sentiment data, both supporting the prospect of a Federal Reserve rate cut in September.
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.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australian Dollar depreciates as US Dollar holds ground on hawkish FedThe Australian Dollar (AUD) extends its losses for the third successive session on Monday.
Read more »
US Dollar Forecast: Dollar advances on the Fed’s hawkish prospectsThe Greenback had a notably positive week, reaching levels close to the 106.00 barrier, an area last seen in early May, as indicated by the US Dollar Index (DXY).
Read more »
US Dollar Index climbs to fresh two-month top ahead of the key US PCE dataThe US Dollar (USD) attracts fresh buyers following the previous day's softer US macro data-inspired downfall and climbs to a fresh two-month peak during the Asian session on Friday.
Read more »
US Dollar Index (DXY) Listless After Core PCE Meet ForecastsThe latest Core PCE data met market estimates across all readings leaving the US dollar rudderless going into the weekend.
Read more »
US Dollar Index finds footing in Thursday backslide but still lower on the dayThe US Dollar Index (DXY) showed the Greenback giving a mixed performance on Thursday, testing into the low side after a mixed bag of US data figures but finding enough footing to limit losses.
Read more »
Australian Dollar declines despite improved Consumer Sentiment indexThe Australian Dollar (AUD) inches lower on Tuesday despite an improvement in Australia's Westpac Consumer Confidence Index, released on Tuesday.
Read more »