US dollar index eases from three week high, down more than 3% in March 2025

The US dollar index is giving up some of its recent gains as markets eye the US economic trend. US dollar index hit a three week high around 104.30 yesterday but pulled back a bit. The U.S. economy grew by slightly more than previously estimated in the fourth quarter of 2024, according to revised data released by the Commerce Department on Thursday. The US gross domestic product surged by 2.4% in the fourth quarter compared to the previously reported 2.3% jump. The Commerce Department said the upward revision primarily reflected a downward revision to imports, which are a subtraction in the calculation of GDP. A downward revision to consumer spending limited the upside. However, the GDP growth in the fourth quarter still reflects a slowdown from the 3.1% surge in the third quarter. This is keeping the sentiments choppy for the US currency as it approaches near close of a downbeat month that has seen the US dollar index ease around 3.40% during the month.

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