The dollar index slid below 106 on Monday, the lowest in over one week and mirroring a pullback in the US 10-year Treasury yield, which retreated from the 5% threshold, while investors continued to assess the outlook for interest rates. Fed Chair Powell said last week that policy isn’t too tight right now and that the Fed is proceeding carefully and will decide on the next steps based on incoming data, the evolving outlook, and the balance of risks. The comments came in line with the message from the FOMC minutes and traders will closely monitor another appearance from Chair Powell and other Fed officials this week for further insights into the Fed's plans for the remainder of the year. Also, investors are waiting for the release of US GDP data and the Federal Reserve’s preferred inflation gauge.
Historically, the United States Dollar reached an all time high of 164.72 in February of 1985. United States Dollar - data, forecasts, historical chart - was last updated on October of 2023.
The United States Dollar is expected to trade at 107.44 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 111.43 in 12 months time.
United States Dollar
The United States Dollar Index or DXY measures the performance of the dollar against a basket of other currencies including EUR, JPY, GBP, CAD, CHF and SEK. The EUR is, by far, the largest component of the index, making up 57.6% of the basket followed by JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%), and CHF (3.6%).
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 105.58 | 106.19 | 164.72 | 70.70 | 1971 - 2023 | Daily |
