The dollar index has managed to regain some traction and approached the key resistance at 91.00, recovering from a gloomy 2020 that sent the US currency down more than 6% to levels not seen since 2018. The recovery was most pronounced in the first half of January, with soaring Treasury yields encouraging investors to buy the greenback. Recently, worries about surging coronavirus cases and a slow vaccine rollout sent traders scrambling for safe-haven assets. Still, the long-term outlook remains bearish owing to the risks posed by record-high debt levels. Treasury Secretary Janet Yellen has backed a $1.9 trillion stimulus package unveiled by President Joe Biden, saying the benefits outweigh the costs of a higher debt burden. Meanwhile, the Federal Reserve has left policy unchanged and did not adjust its monthly bond purchases.
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 February 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.