The US dollar index reached its highest level in the past 6 months.
The US dollar index reached its highest level in the past six months due to concerns about the continued slowdown in economic growth in China and the European Union.
The US dollar index, which is calculated by comparing the weighted average exchange rates of six major currencies (euro, yen, Japanese yen, Canadian dollar, British pound, Swedish krona, and Swiss franc), reached 10,487 on Thursday for the first time since March 10th.
The economic data from the Eurozone and Britain, released on Tuesday, indicated a decline in business activity in the past month. However, a survey of private sector participants showed that the service sector in China experienced the slowest growth in eight months in August.
On the other hand, market participants believe that benchmark interest rates in the United States will remain high for a long time. Nevertheless, the country’s economy continues to experience an upward trend in job creation.
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