The US Dollar Index (DXY) is trading at 105, registering mild gains.
There won’t be any high-level US reports due this week. Fed officials aren’t providing any new insights on the bank’s next movements. The next highlight will be next Wednesday when the US releases April’s CPI figures. The US Dollar Index is trading at 105, registering mild gains. Market dynamics are currently influenced by Federal Reserve Chair Jerome Powell's cautious remarks regarding the unpredictable trajectory of inflation despite an easing trend in recent times.
This positioning suggests that despite recent selling bouts, the long-term sentiment remains in favor of further upside. 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.
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