Dollar Trades Sideways Ahead of Inflation Data; Fed Remarks Point to Cooling Economy
• The US Dollar remains rangebound between 102.00 and 105.00 as markets look for direction ahead of US CPI data on Wednesday.
• Small business optimism data could sway the "no landing" outlook for the US economy.
• Fed members made dovish comments about inflation falling and the cooling job market.
• Technical analysis shows the US Dollar Index facing resistance at 105.12 and support at 103.82.
• The Fed's monetary policy, especially interest rates and quantitative easing/tightening, strongly impacts the US Dollar's value.