Dollar Holds Steady Near One-Week High Amid Fed Rate Cut Speculations

According to Odaily, the US dollar remained stable near a one-week high on Friday as traders adjusted their expectations regarding significant rate cuts by the Federal Reserve. The dollar is poised to end a five-week losing streak, supported by data indicating a soft landing for the US economy, including employment and GDP figures. All eyes are now on the US PCE inflation data set to be released later today, which could influence perceptions of the Fed's rate cut pace. Federal Reserve Chairman Jerome Powell previously stated that it is time to adjust policy, with the direction being clear, but the timing and pace of rate cuts will depend on upcoming data, evolving outlooks, and risk balances.