The US Dollar Index (DXY) is rising from session lows. After experiencing some downward pressure earlier, the dollar has shown signs of strengthening. The DXY recovered from a session low of 108.60 and is at the time of this writing trading at 109.27. Earlier in the week, the dollar index had fallen to a one-week low ahead of the US inflation data release. Solid US economic data has been supporting the dollar, suggesting that the Federal Reserve may slow its easing cycle. This has contributed to the dollar’s recovery from recent lows. The dollar’s strength has been persistent, with the currency rising 7% in 2024 despite two Fed rate cuts
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