Reported 7 months ago
The dollar stabilized before key U.S. inflation data and the Federal Reserve's interest rate projections, following a four-week high against peer currencies. Market players awaited updates on China's steady consumer inflation and narrowing producer price declines, impacting the offshore Chinese yuan and the dollar index. The U.S. dollar's rebound from strong jobs data reduced chances of rate cuts, with markets expecting a 56% probability of a September cut. Investors anticipate U.S. Consumer Price Index data and the Fed's policy meeting for insights into inflation trends and potential rate adjustments.
Source: YAHOO