Posted 11/27/2023, 1:37:00 AM
US dollar drops as traders expect Fed rate hikes to slow; key data and central bank decisions drive currency shifts
- U.S. dollar headed for biggest monthly drop in a year as traders expect Fed rate hikes to peak soon
- Key economic data releases this week include U.S. core PCE inflation, euro zone consumer prices, RBNZ rate decision
- Markets show 23% chance Fed could start easing rates as early as March
- British pound rose to 2-month high against USD following better-than-expected economic data
- Chinese yuan slipped after PBOC set slightly weaker midpoint fix, ahead of this week's Chinese PMI data