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Indonesia News Portal for Traders | Financial & Business Updates

4 December 2024 21:18  |

Dollar Marches Higher

The dollar index was around 106.6 on Wednesday, the highest level in a week, as traders await further clues on the Fed's plans for the December meeting.

Attention will turn to Chair Jerome Powell appearance in New York today, with the odds for a 25bps reduction in the fed funds rate currently standing at about 74%. Meanwhile, the ADP report showed the US private sector added 146K jobs last month, a robust reading, and just shy of market forecasts of 150K.

The highly-anticipated jobs report is due Friday. The greenback was strengthening the most against the yen and the Australian dollar.

Source: Trading Economics

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