DXY Index is currently trading around the high level of 105.45, realizing gains. Core PPI for March came in higher than expected on Thursday. Weekly Jobless Claims also came in hot. The US Dollar Index is currently trading at 105.45, marking its highest position since November 2023. The Greenback continues to rise on the back of hawkish bets on the Federal Reserve due to hot inflation figures. A strong labor market also raises the appeal of the Greenback.
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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Source: FXStreetNews - 🏆 14. / 72 Read more »
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