Reported 6 months ago
The dollar remained stable on Monday as investors considered the possibility of the Federal Reserve cutting rates in 2024 due to easing U.S. inflation, while the euro was steady before an anticipated rate cut by the European Central Bank. Emerging market currencies like the Indian rupee and Mexican peso strengthened following election results. Market focus is on the ECB rate decision and the Mexican election, with expectations of U.S. rate cuts and upcoming economic data influencing market sentiment. The dollar index was up, while the euro and sterling were slightly lower, with attention on the ECB meeting and U.S. labor market data. Traders are watching for further rate cuts from the ECB and assessing the impact of recent economic data on central bank decisions.
Source: YAHOO