The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six other major currencies, has recovered daily losses, trading around 104.30 during the early European hours on Tuesday.
The US Dollar could gain ground due to increased risk aversion on Tuesday. The improvement in US Treasury yields may contribute to support for the Greenback. Vice President Kamala Harris had secured endorsements for the leading candidate for the presidential nomination. The US Dollar Index , which measures the value of the US Dollar against six other major currencies, has recovered daily losses, tradingaround 104.30 during the early European hours on Tuesday.
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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