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Dollar Index DXY Up, Recovers Slightly After Previous Day's Drop -- Market Talk
Friday, 31 January 2025 14:57 WIB | US DOLLAR |DOLLAR

The dollar strengthened against a basket of currencies, recovering slightly after the previous day's drop following weak U.S. gross domestic product data. Markets turned cautious ahead of a possible announcement by President Trump on tariffs, particularly against Canada and Mexico, which drew some safe-haven demand for the U.S. currency. "Tariff news from the Trump administration continues to take center stage," said analysts at Danske Bank. December U.S. PCE inflation data -- the Fed's preferred inflation measure -- and the fourth-quarter U.S. employment cost index, both due at 1330 GMT, will also be closely watched. The dollar index DXY rose 0.2% to 108.011 after dropping as low as 107.500. (AL)

Source: Bloomberg

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