Usd to php forecast 202210/2/2023 ![]() ![]() How did the US dollar perform in 2022?Īfter steadily climbing throughout 2021, the DXY saw a solid start to 2022. For example, EUR/USD measures the euro against the US dollar. The value of the USD is measured against the value of other currencies, creating the exchange rate. ![]() The USD is the world’s reserve currency and the most traded currency on the foreign exchange market. USD is the abbreviation for the US dollar or United States dollar, the official currency of the United States, the world’s most widespread and popular currency. Read on for the latest USD news and USD forecasts. The US Federal Reserve’s ( Fed) previously aggressive monetary contraction policy that saw the US interest rate raised by 425 basis points ( bp) over the course of 2022, from 0.25% in March to 4.50% in December. However, a series of 25 bp hikes this year may signal that the Fed intends to halt its hikes, this along with slowing rates of inflation and fears of a potential recession in the US have pulled the greenback off its highs. The ICE US Dollar Index (DXY) – a measure of the currency’s strength against a basket of rival currencies including the euro ( EUR), Japanese yen ( JPY) and British pound ( GBP) – stood at the 103 mark as of, having fallen over 10% from its 10-year high of 114.78 in September 2022. Can the US dollar keep on rising? – Photo: Andrii Spy_k /
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