The dollar maintained strength near one-year highs, driven by an uptick in inflation to 2.6% in October and a measured outlook from the Fed on rate cuts.
Federal Reserve officials, particularly from Texas and St. Louis, are optimistic that inflation may gradually align with the 2% target, yet emphasize caution in monetary policy adjustments.
Expectations of policies aimed at enhancing inflation, positioned within a Republican-controlled Congress, may postpone the Federal Reserve's timeline for rate cuts, affecting dollar dynamics.
Market participants are keenly awaiting critical U.S. economic indicators, such as producer inflation and retail sales, along with insights from Fed Chair Jerome Powell that may influence dollar strength.
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