The dollar index rose by 0.2% to 105.8 as a recent PCE report showed price pressures remained elevated in the United States reinforcing the view that interest rates would need to remain higher at least until December. Both monthly headline and core measures matched expectations at 0.3% while the annual gauges surprised on the upside. 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, the lowest in 2 years and well below forecasts of 2.5%. Still, 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 DXY increased 0.4832 or 0.46% to 106.0874 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 28 of 2024.
The DXY increased 0.4832 or 0.46% to 106.0874 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.