The dollar index pared early gains to trade little changed at 106 on Friday, as traders assess the situation in the Middle East. Israel launched a strike on Iran, although it appears to have had limited impact and reports suggest that Iran's nuclear facilities remain secure. Worries over an escalation of the conflict in the region initially prompted a flight to safety but Iran apparently downplayed the attack and risks of an immediate response. Meanwhile, economic data released this week including retail sales, initial claims and the Philadelphia Fed Manufacturing Index continue to point to a resilient US economy and persistent price pressures. Also, Fed policymakers have been advocating the Fed is in no rush to cut interest rates, and most traders now expect the first reduction in borrowing costs in September only. The dollar index is on track to end the week little changed.
The DXY decreased 0.0471 or 0.04% to 106.1177 on Friday April 19 from 106.1648 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 20 of 2024.
The DXY decreased 0.0471 or 0.04% to 106.1177 on Friday April 19 from 106.1648 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.