The dollar index held its recent advance to above 108.5 on Wednesday, supported by higher Treasury yields as strong US economic data diminished the likelihood of further Federal Reserve interest rate cuts. Growth in the US services sector accelerated in December, boosting business activity and pushing prices to their highest levels since early 2023. Job openings also rose by 259,000 to 8.098 million in November, surpassing expectations and reaching a six-month high. Investors are now focused on Friday's monthly jobs report, one of the last major data releases before the Fed's upcoming monetary policy decision. Currently, markets are pricing in less than 50 basis points of total easing this year. The dollar strengthened across the board, with the yen experiencing the most significant decline.(Cay) Newsmaker23
Source: Trading Economi
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