US Dollar takes a breather after last week's rally. August jobs report on Friday is anticipated to show a significant increase in Nonfarm Payrolls. Market expectations for 100 bps of easing from the Fed by year-end remain unchanged. On Monday, the US Dollar Index , which measures the US Dollar’s value against a basket of six major currencies, consolidated above 101.50, extending after last week's gain of more than 1%.
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.