Dollar starts 2024 steady, focus switches to data

SINGAPORE ---The dollar was steady on the first trading day of the year as traders weighed the prospect of steep interest rate cuts from the Federal Reserve in 2024 and looked to economic data this week for clues on the central bank's next moves. The dollar index, which measures the U.S. currency against six rivals, fell 2 percent in 2023, snapping two years of gains, and was last at 101.43, up 0.049 percent on Tuesday. Markets are now pricing in an 86 percent chance of rate cuts to start from March, according to CME FedWatch tool, with over 150 basis points (bps) of easing anticipated in the year. "The question is when and how fast rate cuts will be delivered," Marc Chandle...Keep on reading: Dollar starts 2024 steady, focus switches to data

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