The dollar index held steady around 106.6 on Monday, trading close to its highest levels in two years amid expectations of fewer Federal Reserve interest rate cuts and bets on US economic outperformance under a Trump presidency. Last week, Fed Chair Jerome Powell indicated that the central bank has no immediate plans to lower rates, citing the economy's resilience, a robust labor market, and ongoing inflationary pressures. Stronger-than-expected reports on retail sales and inflation further supported a hawkish outlook on Fed policy. While markets still expect a quarter-point rate cut in December, expectations for rate reductions through late 2025 have been scaled back to 77 basis points, down from over 100 basis points just a few weeks ago. Meanwhile, investors are closely watching developments around Donald Trump’s potential pick for Treasury Secretary. Cantor Fitzgerald CEO Howard Lutnick and investor Scott Bessent are reportedly among the leading candidates for the role.
The DXY decreased 0.4642 or 0.44% to 106.2025 on Monday November 18 from 106.6667 in the previous trading session. 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 November 18 of 2024.
The DXY decreased 0.4642 or 0.44% to 106.2025 on Monday November 18 from 106.6667 in the previous trading session. The United States Dollar is expected to trade at 105.46 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 107.18 in 12 months time.