The US dollar has once again found itself at the center of attention in the currency markets, buoyed by high consumer spending metrics. Expectations of an interest rate cut in the U.S. now seem more distant, with any potential adjustment likely delayed until the latter part of 2024, possibly between September and December.
Today's inflation reports, closely watched by the Federal Reserve, have shown that the dollar remains strong. Early rate cuts seem off the table as the data doesn't support such a move.
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