The dollar index remained steady around 108 on Wednesday after pulling back in the previous session, as caution prevailed ahead of a critical inflation reading that could provide further guidance on the direction of interest rates. The January CPI report is expected to show a slight acceleration in US core inflation to 0.3% from 0.2% on a monthly basis, while the annual rate is projected to slow slightly to 3.1% from 3.2%. Meanwhile, Federal Reserve Chair Jerome Powell, in remarks before Congress, reiterated that the central bank is in no rush to cut interest rates, emphasizing the strength of the economy and persistent inflation. He cautioned that acting too quickly to ease policy could derail inflation progress, while moving too slowly might stifle economic growth. On the trade front, markets continued to evaluate the impact of President Donald Trump's latest tariff escalation.(Cay)
Source: Trading economi
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