 Dollar is trading slightly lower as the market enters the final US session of the week, with mixed US retail sales data failing to provide fresh momentum for the greenback. The currency appears to be taking a breather as the initial impact of the "Trump Trade" begins to fade. Meanwhile, the likelihood of another rate cut next month has diminished, with futures markets pricing in around a 60% chance. This growing uncertainty adds to the Dollar's lack of immediate direction. In the absence of new political developments, the greenback may enter a consolidation phase until early December when significant economic data releases are expected to provide new catalysts. Despite the current softness, Dollar remains the strongest performer for the week, followed by Canadian Dollar and Euro. Japanese Yen has moved up slightly but remains the second weakest currency. British Pound has fallen to the position of the worst performer following weaker-than-expected UK GDP data released today. Australian Dollar is the third weakest, with New Zealand Dollar not far behind. Swiss Franc is trading in the middle range.... |
