<\/p>\n\n\n\n
The U.S. dollar strengthened slightly on Thursday in subdued trading due to the Thanksgiving holiday, though the currency remained on track for its steepest weekly decline in four months.<\/p>\n\n\n\n
By 04:49 ET (09:49 GMT), the U.S. Dollar Index<\/strong> rose 0.1% to 99.69<\/strong>, with volumes muted as U.S. markets stayed closed for the holiday.<\/p>\n\n\n\n Sentiment around the dollar was shaped in part by reports suggesting that Kevin Hassett<\/strong>, White House economic adviser, has emerged as the frontrunner to succeed Jerome Powell as Federal Reserve Chair<\/strong> in 2026. Trump has repeatedly pushed for deeper and faster rate cuts, despite the Fed\u2019s caution over persistent inflation.<\/p>\n\n\n\n Despite internal debate among policymakers, markets remain convinced that the Fed will cut rates by 25 basis points<\/strong> at its December 9\u201310 meeting. This follows similar cuts in September and October, reflecting the central bank\u2019s growing prioritization of a softening labor market over elevated inflation readings.<\/p>\n\n\n\n According to CME\u2019s FedWatch Tool, traders now price in an 85% probability<\/strong> of a December cut\u2014more than double last week\u2019s 39%<\/strong> odds.<\/p>\n\n\n\n The euro<\/strong> dipped 0.2% to $1.1580<\/strong>, with investors tracking developments in Ukraine-Russia peace discussions<\/strong>, a factor seen as potentially supportive for the single currency. The yen<\/strong> firmed 0.1%<\/strong> against the dollar, with traders increasingly expecting the Bank of Japan<\/strong> to potentially raise interest rates as early as next month. <\/p>\n","protected":false},"excerpt":{"rendered":" The U.S. dollar strengthened slightly on Thursday in subdued trading due to the Thanksgiving holiday, though the currency remained on track for its steepest weekly decline in four months. By 04:49 ET (09:49 GMT), the U.S. Dollar Index rose 0.1% to 99.69, with volumes muted as U.S. markets stayed closed for the holiday. Fed Chair …<\/p>\n","protected":false},"author":9,"featured_media":53046,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-121232","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=121232"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121232\/revisions"}],"predecessor-version":[{"id":121233,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121232\/revisions\/121233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53046"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=121232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=121232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=121232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Fed Chair Speculation Adds Pressure<\/strong><\/h3>\n\n\n\n
Analysts noted that Hassett\u2019s perceived bias toward aggressive interest-rate cuts<\/strong>\u2014in line with President Donald Trump\u2019s long-standing demands\u2014could weaken the dollar over time if he is eventually appointed.<\/p>\n\n\n\nDecember Rate Cut Expectations Remain Firm<\/strong><\/h3>\n\n\n\n
Euro Slips; Peace Talks in Focus<\/strong><\/h3>\n\n\n\n
A top U.S. envoy is expected to travel to Russia next week, though reports suggest Moscow is unlikely to make major concessions in negotiations with Kyiv.<\/p>\n\n\n\nYen Edges Higher as BOJ Rate Hike Bets Increase<\/strong><\/h3>\n\n\n\n
The shift comes as the yen recently touched a 10-month low<\/strong>, prompting speculation that policymakers may tighten policy to stabilize the currency.<\/p>\n\n\n\n