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US Dollar extends losses as soft inflation data confirms market's September rate cut expectations

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The US Dollar measured by the DXY index slipped further on Thursday, mainly due to the decelerating inflation figures from the US Consumer Price Index (CPI), which makes an even better case for a September interest rate cut by the Federal Reserve (Fed).

US Dollar loses momentum on decelerating CPI figures. Marketsnow are more certain of September cut. US Treasury yields fall, making traders lose interest in USD. The US Dollar measured by the DXY index slipped further on Thursday, mainly due to the decelerating inflation figures from the US Consumer Price Index , which makes an even better case for a September interest rate cut by the Federal Reserve .

US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.

 

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