Posted 2/12/2024, 9:09:00 AM
Dollar Gains Ground Ahead of Key Economic Data That Could Influence Fed Rate Cut Decisions
- Dollar edges higher against euro and other currencies as investors await U.S. inflation and retail sales data for clues on Fed rate cuts
- Consumer price index and retail sales expected to show slowing inflation, boosting Fed confidence towards 2% target
- Soft data could help cap rising Treasury yields and recent dollar strength
- Euro falls from 10-day high after rebound last week following steady declines in 2023
- Dollar rangebound as lack of divergence between Fed and other central banks like ECB prevents significant gains