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Dollar Index Looks Forward To More US Data For Further Guidance

Published on Mar 14, 2024 11:50

The dollar index continues to steady just below 103 mark in early Asia on Thursday awaiting further clarity on Federal stance from a slew of US data due later in the global day. US producer inflation, retail sales and weekly jobless claims figures are due for the day. The dollar index climbed to 103.32 on the back of firm inflation levels reported this week although pared some of its gains as expectations of a Federal rate cut is not ruled out even as timing stays uncertain. Currently, the counter is quoting at 102.89 tracking higher benchmark US treasury yields above 4.2%. Among the basket currencies, EURUSD and GBPUSD are trading under pressure at $1.0941 and $1.2790 respectively.

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