The DXY stands at 104.15 on Friday with mild losses.
US December’s inflation figures were downwardly revised by the BLS.
Next week January’s CPI is due.
The US Dollar (USD) stood flat on Friday, with mild losses, closing a winning week but trimming most of its gains. All eyes are on next week’s US inflation data.
The US Dollar gathered significant ground in the first days of February after Jerome Powell, the Chair of the US Federal Reserve (Fed), mentioned that a reduction in interest rates in March seemed improbable. He emphasized the necessity for further proof of declining inflation before the Fed could feel confident about lowering rates, so incoming data will be key. Next week, the US will release Consumer Price Index (CPI) figures from January, which will likely set the pace of the Greenback for the short term.
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