US dollar slows down against most currencies before PCE inflation data

From Investing.com: 2024-12-20 05:44:00

The US dollar pulled back against most major peers except the yen and pound, following the Fed’s hawkish stance. Data supporting the Fed’s position included an upside revision in Q3 GDP to 3.1% and a drop in initial jobless claims. The yen recovered ground after Japan’s CPI data revealed strong inflation, while the pound weakened as three BoE policymakers voted for a rate cut. Wall Street is set to open lower amid fears of a US government shutdown. Investors await the PCE inflation data to see if it will revive the US dollar’s uptrend.



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