Currency Buzz: Dollar Index Holds Near 109 Mark; EUR/USD Slips Below Parity

23 Aug 2022 , 01:35 PM

The US dollar index extends ascend for the fifth day in a row, advancing past 109 mark, bouncing back to its highest level in two decades. Dollar pushed higher Tuesday ahead of the central banks key Jackson Hole symposium later this week. Investors focus is now turned to Fed Chairman Jay Powells speech in Jackson Hole, Wyoming on Friday for clues on the future path of U.S. interest rates. The Dollar Index, which tracks the greenback against a basket of six other currencies, hit a high of 109.20 earlier in the session and is currently quoting at 108.88, not far from the two-decade high of 109.29 hit in July. Meanwhile, the euro that carries maximum weight in the dollar index is trading below parity at $0.99 as Europe struggles with energy supply and slowing growth concerns. Powered by Commodity Insights