After having declined 1% for the second straight day on Wednesday, the US Dollar Index stays relatively quiet below 110.00 early Thursday as investors await the US Bureau of Economic Analysis' first estimate of the third-quarterwill announce its interest rate decision and President Christine Lagarde will deliver her remarks on the policy outlook at a press conference. The US economic docket will also feature September Durable Goods Orders and the weekly Initial Jobless Claims figures.
The ECB is widely projected to raise its key rates by 75 bps and communicate that further rate hikes will be needed as inflation in the euro area continues to run uncomfortably hot.advanced to its highest level since mid-September at 1.0093 earlier in the day before going into a consolidation phase.capitalized on the broad dollar weakness and gained nearly 150 pips on Wednesday. At the time of press, the pair was trading modestly lower on the day at around 1.1600.
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