On February 9, the US dollar index fluctuated within a narrow range and was traded at around 103.45. The US dollar index edged higher on Wednesday, which changed little during the session, and investors stopped selling. The move came a day after Fed Chairman Powell made no apparent change to his interest rate outlook despite a strong US job market report last week. The US dollar may trend lower in the future as the US Fed draws to a close in its tightening monetary policy and markets price in rate cuts by the end of the year, analysts said.
US Dollar Index Grows Slightly on Feb 9, but is Likely to Trend Lower in the Short Term
On February 9, the US dollar index fluctuated within a narrow range and was traded at around 103.45.
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