USD sees continuous rise with keen eye toward FOMC meeting, prolonging its third consecutive day of gains. US economic outlook remains strong and investors await fresh economic forecasts from the FOMC. Markets anticipate hawkish tone on Wednesday’s Fed decision. On Tuesday, the US Dollar Index saw an upward trend toward the 105.36 area. The session won’t provide any highlights as cannons are pointing to Wednesday’s session.
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.
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