The dollar weakened slightly after hitting a two-week high on Wednesday, fueled by cautious signals from the Federal Reserve regarding the possibility of further interest rate cuts. The US central bank cut interest rates by 25 basis points, as expected, but Fed Chairman Jerome Powell said that further cuts in December were uncertain.
This uncertainty arose from the absence of official labor market data during the US government shutdown, which prevented some policymakers from committing to further cuts. According to Thu Lan Nguyen of Commerzbank, the next determining factor will be the direction of the Fed's majority vote, which Powell has not yet revealed.
Nguyen, Head of Foreign Exchange (FX) Research, advised caution and not to rush into dollar euphoria. Although the dollar has strengthened in recent days, market participants should wait for more clues before making any major decisions.
The dollar index (DXY) fell 0.1% to 99.153, but remained close to last Wednesday's high of 99.356. This movement indicates that, despite a small decline, the dollar remains stable at relatively high levels. (asd)
Source: Newsmaker.id
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