US Nonfarm Payrolls report from April underperformed, showing a lower-than-expected increase. The odds of a rate cut in September increased, which seems to be applying pressure on the USD. The US Dollar Index is visiting the 105 level with sharp losses at the end of the trading week. This comes after Friday’s report of weak US Nonfarm Payrolls figures from April, which made markets dump the USD.
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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