Dollar Index At One-Week High; US Data Awaited

Published on Jan 16, 2024 09:36

The dollar index marched forward in early Asia on Tuesday ahead of crucial data due to be released this week. Reduced expectation of a Federal rate cut anytime soon is keeping the global currency supported. The dollar index that measures the greenback against a basket of currencies is hovering at a one-week high and quoting at 102.63, up half a percent on the day. This week the US will release Retail Sales figures from December and the Fed�s Beige Book. Among the basket currencies, EURUSD is down 0.35% at $1.0947 whereas GBPUSD is down 0.50% at $1.2688, bearing the brunt of dollar gains.