The dollar index bottomed around 90.20 on Friday, a level not seen since late February, and recording its worst week since November 2020 in reaction to a payroll report that showed the US economy only added 266,000 jobs in April, well below market expectations of almost one million. Such reading heightened the uncertain outlook regarding the US job market recovery and cemented expectations that the US central bank will remain ultra-accommodative until the economy has further recovered. Earlier this week, the greenback touched a two-week high of 91.40 after Treasury Secretary Janet Yellen Yellen remarks’ created speculation that the Fed may have to scale back its support for the economy sooner than expected to stop the economy from overheating.
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 2021.
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.