The dollar index steadied around 105.6 on Friday as investors stayed on the sidelines ahead of a key US inflation reading for March that could provide more clues on the path for Federal Reserve monetary policy. On Thursday, the index slid to near two-week lows as data showed that the US economy expanded an annualized 1.6% in Q1 2024, well below forecasts of 2.5% and the lowest growth in about two years. Meanwhile, the same report showed that underlying inflation accelerated in the first quarter, while the latest jobless claims continued to point to a tight labor market, clouding the outlook for potential Fed rate cuts this year. The dollar nursed losses against most major currencies, but hovered 34-year highs against the yen as the Bank of Japan decides on monetary policy.
The DXY increased 0.0416 or 0.04% to 105.6459 on Friday April 26 from 105.6043 in the previous trading session. 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 April 26 of 2024.
The DXY increased 0.0416 or 0.04% to 105.6459 on Friday April 26 from 105.6043 in the previous trading session. The United States Dollar is expected to trade at 105.49 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 108.39 in 12 months time.