The US Dollar is trading higher for the fourth consecutive day although bulls have been halted at 0.8850 with investors awaiting the reading of November’s US CPI figures.
The pair accelerated its rebound from last week’s lows at 0.8735 on Tuesday. The Dollar has been appreciating across the board this week, with investors anticipating a strong US inflation report today.
November’s CPI is unlikely to alter market expectations of a 25 bps Fed cut next week but might force to scale back monetary easing hopes for next year. This would buoy US Treasury yields and drag the US Dollar higher with them.
In Switzerland, the SNB is expected to cut rates on Thursday and might leave the door open for further cuts in early 2025 considering the weak inflation levels. A large rate cut, which is not completely discarded, would take markets by surprise and hit the CHF. US Dollar PRICE TodayThe table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).More By This Author:Gold Price Extends Corrective Slide From Over Two-Week Top; Focus Remains On US CPI Report
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