The dollar index looked on course for its biggest monthly drop since November 2022
– The dollar steadied on Wednesday after a recent run of declines that pushed it to its weakest in more than a year, as traders awaited economic data that could set the tone for the Federal Reserve's September policy meeting.
It reached a 13-month low of 100.51 in the previous session with shifts driven by a sharp reevaluation of expectations for Fed rate cuts. The current pricing sits at a 37% chance for the larger cut, up from 29% a week ago, according to the CME Group's FedWatch Tool. Markets see just over 100 basis points worth of easing by the end of the year.A preliminary estimate for US gross domestic product in the second quarter is due later this week, along with the core personal consumption expenditures index, the Fed's preferred inflation measure.
The euro slid 0.4% to $1.1141, but was sitting not far from a 13-month peak touched at the start of the week.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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