US Dollar is under further scrutiny following dismal ADP and ISM Services PMI data Markets firming up their view of a September Fed rate cut. Investors are turning their attention towards the forthcoming Nonfarm Payrolls data from June on Friday. US traders will remain on the sidelines, celebrating Independence day. Concerns raised by signs of disinflation and a slowing labor market in the US are being taken into account by market participants, with a September rate cut now seeming more likely.
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.