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PCE announcement is imminent, which may affect expectations for the pace of Fed interest rate cuts
The dollar held steady near a one-week high against major currencies on Friday as traders tempered expectations of a sharp interest rate cut by the Federal Reserve. The dollar is on track to end a five-week losing streak as the U.S. job market and GDP data point to a soft landing for the U.S. economy. All eyes are now on U.S. PCE inflation data to be released later today, which could affect expectations for the pace at which the Federal Reserve will cut interest rates. Federal Reserve Chairperso...
2024-08-30 12:31:59
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