GBPUSD: GBPUSD commentary today
The USD stabilized after the DXY index ended the week at a record high in more than a month, approaching its 2024 peak.
The dollar has strengthened recently, contrary to expectations that the greenback would weaken as the Fed moves closer to cutting interest rates. Now, expectations of interest rate cuts by other central banks are also helping to support the currency.
Investors will be watching a flurry of inflation data around the world this week, including the Fed's key inflation measure on Friday, which is expected to continue to run hot in February. The core PCE index, which excludes food and energy prices, is forecast to rise 0.3% after its biggest monthly gain in a year.
The dollar has strengthened recently, contrary to expectations that the greenback would weaken as the Fed moves closer to cutting interest rates. Now, expectations of interest rate cuts by other central banks are also helping to support the currency.
Investors will be watching a flurry of inflation data around the world this week, including the Fed's key inflation measure on Friday, which is expected to continue to run hot in February. The core PCE index, which excludes food and energy prices, is forecast to rise 0.3% after its biggest monthly gain in a year.
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