US Dollar Declines Following Disappointing CPI Data and Rate Cut Speculation

Thursday, 11 July 2024, 19:37
The US dollar experienced a significant decline, hitting a 1-month low, as the latest US CPI report came in below expectations. This outcome has fueled speculation that the Federal Reserve may implement interest rate cuts in the near future. Furthermore, dovish remarks from San Francisco Fed President Daly further added to the downward pressure on the dollar.
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US Dollar Declines Following Disappointing CPI Data and Rate Cut Speculation

US Dollar Weakens on Dovish CPI Report

The dollar index (DXY00) Thursday fell by -0.58% and posted a 1-month low.

Rate Cut Expectations Rise

The dollar retreated Thursday after the weaker-than-expected US June CPI report bolstered speculation the Fed will be able to cut interest rates this year.

Additionally, dovish comments Thursday from San Francisco Fed President Daly weighed on...

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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