The US Dollar (USD) attracts fresh buyers following the previous day's softer US macro data-inspired downfall and climbs to a fresh two-month peak during the Asian session on Friday.
DXY regains positive traction amid some repositioning ahead of the US PCE Price Index. The recent hawkish comments by Fed officials back the case for one rate cut this year. Hence, the crucial inflation data will play a key role in driving the USD in the near term. The US Dollar attracts fresh buyers following the previous day's softer US macro data-inspired downfall and climbs to a fresh two-month peak during the Asian session on Friday.
Moreover, Atlanta Fed President Raphael Bostic noted that inflation remains a chief concern and that the central bank wants to be absolutely certain that inflation will return to 2% before an initial cut. This overshadowed Thursday’s unimpressive US data, which indicated that growth momentum in the world's largest economy is moderating.
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