The dollar index remained steady above 109 on Friday as investors braced for the December nonfarm payrolls report, seeking insights into the strength of the labor market. A strong jobs report could reinforce expectations for fewer interest rate cuts from the Federal Reserve this year. Minutes from the Fed’s December meeting, released earlier this week, suggested a potential slowdown in the pace of policy easing, driven by renewed concerns over inflation. Fed officials also expressed apprehension about the impact of potential changes in trade and immigration policy under the incoming Trump administration. Additionally, strong services activity and rising prices have intensified inflationary concerns. Meanwhile, Philadelphia Fed President Patrick Harker remarked on Thursday that he expects the Fed to eventually cut rates, but stressed that an immediate move is not necessary.
The DXY increased 0.0785 or 0.07% to 109.2442 on Friday January 10 from 109.1657 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 January 10 of 2025.
The DXY increased 0.0785 or 0.07% to 109.2442 on Friday January 10 from 109.1657 in the previous trading session. The United States Dollar is expected to trade at 109.45 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 112.50 in 12 months time.