US Dollar Price Forecast: USD holds steady after strong labor market data

The US Dollar (USD), measured by the US Dollar Index (DXY), held steady at around 103.00 on Thursday after a two-day rebound.

Strong Initial Jobless Claims data triggers the USD, yet aggressive easing might limit the upside. Investors await further clues on the US economy. Markets continue to underestimate the Fed and are confident that it will rush to cut. The US Dollar , measured by the US Dollar Index , held steady at around 103.00 on Thursday after a two-day rebound.

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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