FOREX
The US dollar stabilised in early Thursday trading, following its worst day of the year, with the index measuring the greenback's performance against other major currencies dropping around 0.75% on Wednesday. The deceleration in inflation, shown by data released on Wednesday, had been predicted but still reverberated through financial markets as such predictions had been proven wrong on previous occasions. Against this backdrop, there was an adjustment in market expectations, with the prospect of two rate cuts in 2024 gaining more traction, leading to an easing in Treasury yields and a softer dollar.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
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