July 12, 2024

Political Commentary

News Politics Business Sports

Dollar Falls to Weakest Since July as Data Fuels Rate-Cut Bets

2 min read

The dollar extended its drop after the Federal Reserve’s preferred gauge of underlying inflation showed muted price gains, affirming the central bank’s pivot toward interest-rate cuts next year.

Article content

(Bloomberg) — The dollar extended its drop after the Federal Reserve’s preferred gauge of underlying inflation showed muted price gains, affirming the central bank’s pivot toward interest-rate cuts next year.

The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.1% in November from a month earlier, after a downwardly revised 0.1% gain in October, according to a report from the Bureau of Economic Analysis. 

Advertisement 2

Bloomberg News

2023-12-22 10:27:06

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator


Read more from original source here…

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.