Reported 4 months ago
The U.S. dollar strengthened after earlier losses as Treasury yields surged and consumer confidence unexpectedly improved. The weak demand in recent Treasury auctions and concerns about inflation supported the dollar. Despite speculation about potential rate cuts, Fed officials emphasized the need for more evidence before adjusting policy. The focus now is on U.S. personal consumption data. ECB rate cut expectations and Japanese inflation data also influenced currency markets.
Source: YAHOO