📈Market Analysis: Dollar strengthens after a strong recovery as Fed speakers consider
The dollar stabilized after its strongest rally since early June, as traders awaited insights from key Federal Reserve officials on potential interest rate cuts. The U.S. currency recovered from recent lows against the euro and British pound. While no clear catalyst for the rebound was evident, varied opinions from Fed speakers influenced investor sentiment.
Fed Governor Adriana Kugler supported the recent half-percentage point rate cut but did not provide guidance on future cuts. Fed Chair Jerome Powell and others are set to speak later in the day, with jobless claims data closely monitored for its impact on rate expectations.
The dollar index dipped slightly to 100.87 after a significant gain, while the euro and sterling remained stable. The Australian dollar rebounded, and Bitcoin saw a minor dip.
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Edited 26 Sep 2024, 12:51
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