Dollar Index Steadies Near 104 Mark Ahead Of US Inflation

Published on Dec 12, 2023 11:09

The US dollar index is holding very close to 104 mark against a basket of currencies ahead of crucial US consumer price inflation due this week. The inflation data is likely to guide upcoming Federal Reserve monetary stance for the year. Currently, the dollar index is seen trading at 103.93. US 10- year benchmark treasury yields are seen slightly higher at 4.2% ahead of Fed decision this week, but sharply off 16-year high of 5% seen in recent times. Among basket currencies, EURUSD is up marginally at $1.0770 whereas GBPUSD is holding higher by 0.21% at $1.2582.