The US Dollar Index (DXY) trades in a tight range near 104.30 in Thursday’s European session.
The US Dollar Index trades back and forth around 104.30 with US Q2 GDP in focus. Market sentiment remains risk averse amid uncertainty over US presidential elections. The US core PCE will indicate whether market speculation for Fed rate cuts in September is appropriate. The US Dollar Index trades in a tight range near 104.30 in Thursday’s European session. The US Dollar stays quiet as investors await the United States Q2 flash Gross Domestic Product data, which will be published at 12:30 GMT.
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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