Dollar retreats ahead of Thanksgiving due to profit locking and low liquidity

From Investing.com: 2024-11-28 05:43:00

Dollar traders lock in profits on Thanksgiving, volatility expected due to low liquidity. Greenback retreats against major peers despite strong Q3 GDP growth. Probability of Fed pause in December drops to 34%, but rises to nearly 60% in January. Uncertainty over Trump’s tariff policies persists, Mexican peso rebounds over 1%. Yen climbs higher on BoJ rate hike bets, Tokyo CPI data awaited. Euro gains on ECB Schnabel’s hawkish remarks, probability of 50bps rate cut drops to 15%. German CPI data release may support euro’s recovery.



Read more at Investing.com: Dollar Extends Retreat Ahead of US Thanksgiving