Dollar slips as market awaits data
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The dollar slid further on Wednesday as it consolidates a bounce in recent days from surprisingly strong US economic data and pushback from Federal Reserve officials on market expectations of imminent interest rate cuts. The dollar eased from a nearly three-month high against the euro on Tuesday even as market bets on a rate cut by the Fed in March rebounded. Treasury yields, often a factor in the dollar’s strength when they draw foreign investment, also were lower. Analysts pointed to technical factors for the dollar’s pullback, following a two-day rally of as much as 1.4% against the euro after unexpectedly strong US jobs data, as well as more hawkish rhetoric from Federal Reserve Chair Jerome Powell, pummeled bets for a rate cut as soon as March.

#Dollar #UsEconomy #FederalReserve #InterestRateCuts

https://www.brecorder.com/news/40287856