#usd

#usd

Markets continue to price roughly a 75% probability that the Fed will keep rates unchanged at its January meeting. Attention now turns to Thursday's inflation data, which is expected to show broadly stable price pressures. An upside surprise could further support the dollar and yields, while any deceleration would likely revive expectations for earlier or deeper easing, weighing on both.

The euro was at a three-week low against the US dollar as renewed trade tensions, fueled by President Trump's tariff announcement, weighed on the common currency.

The recent decline of the U.S. dollar against the Japanese yen signals a potential shift in the dollar's global dominance due to mounting fiscal concerns.