Dollar Gains as FOMC Minutes Signal Potential Rate Hike Amid Persistent Inflation Concerns
In the past week, we saw the US Dollar Index appreciate by 0.25% against a trade weighted basket of its peers. Other than a strong Durable Goods Orders print on Friday, data releases were relatively sparse last week. The major focus was on the FOMC minutes release from the most recent monetary policy meeting.
Published on 28 May 2024
The US Dollar Index rose 0.25% last week, bolstered by Fed signals of potential further tightening and anticipation of the upcoming PCE Price Index release.
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