Dollar's Rollercoaster Ride: Inflation Concerns Loom
The U.S. dollar eased from a two-year peak as it reels from inflation and interest rate volatility. Post-Fed rate cuts, the dollar still aims for a third straight week of gains. November's PCE index, a key inflation measure, rose 0.1%, heightening inflationary pressure concerns.

The U.S. dollar experienced a retreat from its zenith in two years on Friday, stemming from fresh inflation data, shortly after the Federal Reserve's rate cut. Despite this dip, the dollar is still poised for a third consecutive week of gains. Early in the session, the dollar reached 108.54, marking its highest point since November 2022.
Data released by the Commerce Department indicated that the personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure, grew by 0.1% in November. This followed an unrevised increase of 0.2% in October. From a year-on-year perspective, the index saw a 2.4% rise compared to October's 2.3%.
These developments are indicative of the ongoing economic balancing act, with fluctuating currency values intertwined with monetary policy shifts. Observers remain attentive to inflationary trends as they assess future economic strategies.
(With inputs from agencies.)
ALSO READ
Nadcab Labs: Revolutionizing Digital Finance with Multicurrency Wallet Solutions
Cracking the Fake Currency Racket: NIA Sentences Smugglers
Tether's Push for Big Four Audit: A New Chapter in Cryptocurrency Transparency
Gold and Foreign Currency Seized on Highway Bus
Harvest Company Launches Innovative Social Media App and Digital Currency