• Sat, Feb 28, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

28 November 2024 09:25  |

Dollar Holds Losses in Holiday-Thinned Trade

The dollar index held its recent decline around 106.1 on Thursday, with trading volumes remaining low due to the Thanksgiving holiday in the US.

The index fell 0.8% on Wednesday after US PCE inflation data matched expectations, suggesting little change in the Federal Reserve’s interest rate outlook.

Markets are currently pricing in a 66.5% chance that the Fed will cut rates by 25 basis points in December, up from 55.7% a week earlier.

The dollar also faced pressure earlier this week following the nomination of Scott Bessent as US Treasury Secretary, which provided a sense of stability to markets and reduced expectations for aggressive tariff policies under incoming President Trump.

Further weighing on the dollar were gains in the euro and the yen, fueled by hawkish comments from an ECB official and speculation that the BOJ may hike rates in December.

Source: Trading Economics

Related News

US DOLLAR

Dollar advances near 7-month peak after US inflation data

The U.S. dollar advanced near a seven-month high against major currencies on Wednesday after data showed U.S. inflation for O...

13 November 2024 23:41
US DOLLAR

Dollar Awaits US Vote Result, Euro Volatility Jumps

The dollar gauge is slightly weaker ahead of US vote results as polls show a deadlocked presidential race. Euro volatility ...

5 November 2024 21:23
US DOLLAR

Dollar Bulls in Control; Euro, Pound Extend Lows

The dollar extended its rally versus major peers as rising Treasury yields and confirmation of a Republican election clean ...

14 November 2024 17:15
US DOLLAR

Dollar Consolidates Before US Payrolls Data

A gauge of the dollar held largely steady as traders stayed on the sidelines ahead of US payrolls data later on Friday and el...

1 November 2024 10:06
BIAS23.com NM23 Ai