Dollar Index Steadies Below 102 Mark

Published on Dec 20, 2023 15:47

The dollar index is holding ground on Wednesday, steadying just below 102 mark as recent comments from Fed officials doused out dovish tone by FOMC last week. Some Fed officials are putting aside rate cut probability after Fed policy member�s penciled three rate cuts in its dot chart for next year. The dollar index is quoting at 101.87, marginally up on the day. Meanwhile, data from US yesterday showed housing starts for November rose to 1.56M from 1.359M, better than the market expectation of 1.36M. Among the basket currencies, GBPUSD was trading at $1.2678, down 0.4% on the day after less than expected inflation data. EURUSD was seen steady around $1.100 mark, down slightly on the day.