The US dollar index slumped yesterday, breaking under 105 mark and testing a two week low as markets reassessed their interest rate views following release of the US Federal Reserves monetary policy meeting minutes. The minutes of the June 11-12 meeting said participants noted that progress in reducing inflation toward the Fed’s 2 percent target had been slower this year than they had expected last December. Fed e forecasts are now suggesting just one interest rate cut this year compared to the three predicted in March. This took a toll on Dollar index after its recent flourish and the index sank. It currently linger around 105 mark, down marginally on the day.

Powered by Capital Market – Live News

First Published: Jul 04 2024 | 11:57 AM IST