The dollar index erased earlier losses to trade nearly flat at 98.4 on Friday after touching 97.9 earlier in the session, the lowest since March 16th as investors worry that mounting tensions between the US and China will further weaken trade and the global economy. President Trump will make a statement on American response to China’s new security law for Hong Kong later in the day. Meanwhile, Fed Chair Powell reiterated the central bank is strongly committed to use its tools to support the US economy and that is ‘days away’ from making the first loans in the Main Street lending facility programme.
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 May of 2020.
The United States Dollar is expected to trade at 96.06 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 97.33 in 12 months time.