The U.S. dollar (USD) has shown notable strength in the foreign exchange (FX) market, impacting various currency pairs. Recent reports indicate that the USD has appreciated against the Australian dollar (AUD) and New Zealand dollar (NZD), with the latter experiencing a decline of 0.485% against the USD. In contrast, the Canadian dollar (CAD) has performed relatively well, posting a 0.108% return against the USD. A currency strength chart ranked the USD as the strongest currency, followed by the British pound (GBP) and CAD, while the AUD and NZD were among the weakest. Analysis of volatility-adjusted returns revealed that 23 out of 28 USD crosses had positive returns, indicating robust performance in the FX market. The most actively traded currency pair with the USD is noted to be at $93.3 billion per day, according to the New York Fed's April 2024 FX Volume Survey.
What is the most-traded currency with the U.S. dollar (USD)—at $93.3 billion per day? 💱 Here, our partner @OANDA breaks down the top currencies traded with the USD from the New York Fed's April 2024 FX Volume Survey. https://t.co/HU2J7yrCFx https://t.co/IkPOdEyLRl
$USD has broadly weakened since 5AM this morning, with $GBP, $KRW, and $NZD appreciating the most vs. USD. The $GBP was strongest vs. USD with a 0.504% return, while the $MXN was weakest vs. USD with a 0.038% return. #Forex https://t.co/wmfxqKSlTf
The biggest movers in global FX overnight, based on volatility adjusted returns, were #USDSGD, #NOKSEK, #USDCHF, #USDHKD, & #USDSEK. For USD crosses, 23 out of 28 had positive returns. For EUR crosses, 7 out of 13 had positive returns. #Forex https://t.co/C1GW86WHVc