The dollar index continues to stay firm tracking higher US treasury yields near 4.6% amid expectations of fewer Federal rate cuts than expected in 2025. Lack of volume amid holiday thin trades is keeping the greenback in a bounded range. The dollar index that measures the greenback against a basket of currencies is quoting at 107.93, up 0.11% on the day and hovering near its recent two year high above 108 mark. On the data front, November durable goods preliminary data showed a -1.1%, but the prior figure was revised up from 0.3% to 0.8%, boosting the dollar. Consumer confidence for December fell to 104.7 from 111.7, partially offset by an upward revision for November to 112.8. Among basket currencies, EURUSD and GBPUSD were marginally lower at $1.0434 and $1.2527 respectively.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
