"The dollar index was firm on Thursday, hovering near a two-week high as investors digested a mix of US data, recent comments from Federal Reserve members, and a busy global central bank calendar. The dollar continues to draw support from cautious remarks from Federal Reserve members. Fed Lisa Cook signalled there is no rush to back further rate cuts, helping to anchor the dollar."
"Additionally, the appointment of Kevin Warsh as Fed chair fuelled some caution. Attention now turns to today's rate decisions from the ECB and the Bank of England. Comments from the respective leaders could affect the dollar's strength against the euro and the pound, although both central banks are expected to keep interest rates on hold. Additionally, JOLTS and initial jobless claims will be scrutinized for indications of labour market strength."
The dollar index remained firm, hovering near a two-week high as markets processed mixed US data, Fed comments, and a busy global central bank calendar. Cautious remarks from Federal Reserve members continued to support the dollar, with Fed Lisa Cook signalling no rush to enact further rate cuts and the appointment of Kevin Warsh as Fed chair adding to caution. Focus shifted to ECB and Bank of England rate decisions, where leaders' comments could influence the dollar versus the euro and pound while both central banks are expected to hold rates. Upcoming JOLTS and initial jobless claims will be watched for labour market signs that could alter dovish expectations and affect the dollar and yields.
Read at London Business News | Londonlovesbusiness.com
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