The US Dollar Index (DXY), which tracks the value of the US Dollar (USD) against six major currencies, edging lower to near 103.20.
The US Dollar depreciates as Treasury yields loseground amid US economic instability. CME Fed Watch tool indicates a 100% probability of a 25-basis point Fed rate cut in September. Weekly US Initial Jobless Claims fell to 233K, against the expected 240K and 250K prior. The US Dollar Index , which tracks the value of the US Dollar against six major currencies, edging lower to near 103.20. The decline in US Treasury yields is exerting additional pressure on the Greenback, with yields standing at 4.
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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