Dollar Gains Amid Trimmed Rate Expectations as Sterling Weakens
Wednesday, 16 October 2024, 00:26
Dollar Gains on Trimmed Rate Expectations
The dollar continue to show strength as it edges higher, driven by trimmed rate expectations from the Federal Reserve. With forecasts indicating potential modest rate cuts this year, the dollar is trading near two-month peaks.
Sterling Weakens Post Inflation
Conversely, the sterling has weakened significantly after the recent inflation data release. A benign inflation report has led to a decline in sterling's value, spotlighting the contrasting fates of these two currencies.
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