Dollar Strengthens to Kick Off the Week
The dollar index edged up to 101.9 on Monday, snapping a two-week losing streak as investors braced for a busy week of economic releases and the Fed’s monetary policy decision. The Fed is widely expected to leave interest rates unchanged this month, with markets focused on policymakers’ forward guidance, particularly any signals regarding a potential rate hike in December. Key data releases, including GDP growth and the PCE inflation index, will also be closely watched for clues about the outlook for monetary policy. Meanwhile, gains on Wall Street, supported by optimism surrounding Anthropic’s IPO filing, and falling oil prices provided additional support for the greenback. The dollar gained the most against the euro, pound and yen.
The dollar index edged up to 101.9 on Monday, snapping a two-week losing streak as investors braced for a busy week of economic releases and the Fed’s monetary policy decision. The Fed is widely expected to leave interest rates unchanged this month, with markets focused on policymakers’ forward guidance, particularly any signals regarding a potential rate hike in December. Key data releases, including GDP growth and the PCE inflation index, will also be closely watched for clues about the outlook for monetary policy.
Meanwhile, gains on Wall Street, supported by optimism surrounding Anthropic’s IPO filing, and falling oil prices provided additional support for the greenback. The dollar gained the most against the euro, pound and yen.