A sharp recovery in US Dollar triggered by cautious market sentiment. Bets for interest rate cut at the September Fed meeting continue to receive pressure from Fed officials. US Treasury yields also fuel recovery in USD with 2-year yield rising to 5.00%. The US Dollar Index is showing a sharp recovery, hovering around the 105.00 mark on Wednesday. Amid this climate, investors remain risk-averse.
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 $6.6 trillion in transactions per day, according to data from 2022.