Currency Buzz: US Dollar Index Surpasses Above 108, Up 12% This Year

12 Jul 2022 , 03:00 PM

The US Dollar Index, which measures the value of American money against six major foreign currencies, has jumped nearly 12% this year to a two-decade high, breaking above 108 mark. The euro is almost approaching parity now. The dollar soaring as the Federal Reserve is raising interest rates more aggressively than central banks in other countries, particularly ECB and BOJ. The Euro appears in the form of Russian gas. Germanys main gas pipeline, Nord Stream 1, is due to undergo routine maintenance From Monday the 11th of July to the 21st of July. Powered by Commodity Insights