FX.co ★ Dollar Holds Steady

The dollar index remained steady at 98.6 on Monday, following a slight increase last week. This week's trading activities are anticipated to be subdued owing to the Christmas holiday. Market participants are primarily focused on the advance GDP estimates for the third quarter, scheduled for release on Tuesday. These figures will offer valuable insights into the state of the economy and assist in predicting the Federal Reserve's forthcoming interest rate decisions. Currently, investors expect the Fed to implement two quarter-point rate cuts in the coming year, a sentiment bolstered by last week's lower-than-anticipated inflation numbers. Meanwhile, international traders are closely observing the yen, as the Bank of Japan's Governor, Kazuo Ueda, took a cautious approach after last week's interest rate increase.