Dollar Index Steadies Above 102 Mark

Published on Dec 19, 2023 11:54

The dollar index is seen steadying just above 102 mark on Tuesday as dovish remarks by Fed last week that led dollar lower was countered by a contrary view this week. Fed officials including President John Williams stated that it�s premature to talk about rate cuts although the Fed FOMC maintained a possible rate cut early next year. The dollar index that measures the greenback against a basket of currencies is trading at 102.20, largely unchanged on the day. The focus is now on US PCE inflation data for further insights into the Federal stance. Meanwhile, data on Monday showed US homebuilder sentiment rebounded in December after falling for four consecutive months, according to a report released by the National Association of Home Builders on Monday. The report said the NAHB/Wells Fargo Housing Market Index climbed to 37 in December after falling to an eleven-month low of 34 in November. Economists had expected the index to rise to 36.