The dollar index held near 103 on Thursday after losing about 1% over the past three sessions, weighed down by weaker-than-expected US economic data which bolstered bets that the Federal Reserve will likely end its interest rate hikes. Second estimates showed that the US economy grew less than previously thought in Q2, while job creation slowed more than expected in August according to ADP. This comes on the heels of a report showing that consumer sentiment in the country fell by the most in two years in August amid souring views on the labor market, higher borrowing costs, and persistent inflation. Investors now look ahead to July personal consumption expenditures and weekly jobless claims data on Thursday for more clues on the rates path. The dollar held losses against major currencies, while it weakened further against the Australian and New Zealand dollars amid an improving risk sentiment globally.
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 August of 2023.
The United States Dollar is expected to trade at 105.59 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 109.93 in 12 months time.