The US Dollar Index continues to decline, while the Euro and Pound exchange rates hit a new high in 2024
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The sharp drop in the US dollar has driven the euro and pound to reach new highs in 2024. The Bloomberg Dollar Index has fallen for three consecutive days, with the current decline at about 1.9%. The euro against the dollar rose to 1.1130, while the pound against the dollar rose by 0.5% to 1.3052, reaching the highest level this year. Traders are paying attention to clues of a Fed rate cut and are expected to carefully study Powell's speech on Friday. Speculation on revisions to employment data may also further weigh on the US dollar
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