<\/p>\n\n\n\n
The U.S. dollar edged higher on Thursday, continuing its rebound from a shaky start to the week as expectations for near-term Federal Reserve rate cuts continued to fade.<\/p>\n\n\n\n
At 03:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against a basket of six major currencies, rose 0.1% to 98.980, putting it on track for a modest weekly gain.<\/p>\n\n\n\n
Dollar Continues to Rebound<\/strong><\/p>\n\n\n\n The greenback had fallen sharply earlier in the week after Federal Reserve Chair Jerome Powell revealed that the Trump administration had threatened criminal charges over his testimony related to renovation works at the central bank\u2019s headquarters. Powell warned the move amounted to political intimidation aimed at forcing easier monetary policy.<\/p>\n\n\n\n Since then, the dollar has regained ground as markets digested the news, aided by President Donald Trump saying on Wednesday that he has no plans to fire Powell, though he added it was \u201ctoo early\u201d to say what he might ultimately do.<\/p>\n\n\n\n Support for the dollar also came from U.S. data showing producer prices picked up slightly in November, driven by a surge in gasoline costs, while retail sales rose more than expected, pointing to resilient consumer demand.<\/p>\n\n\n\n Euro Slips After Greenland Talks<\/strong><\/p>\n\n\n\n In Europe, EUR\/USD eased 0.1% to 1.1633 after Denmark\u2019s foreign minister Lars L\u00f8kke Rasmussen said there was a \u201cfundamental disagreement\u201d with the United States following talks over Greenland\u2019s future.<\/p>\n\n\n\n The comments came after Danish and Greenlandic officials met with U.S. Secretary of State Marco Rubio and Vice President JD Vance in Washington.<\/p>\n\n\n\n GBP\/USD edged slightly higher to 1.3440 after stronger-than-expected U.K. growth data. Britain\u2019s economy expanded 0.3% in November on a monthly basis, beating forecasts for 0.1%.<\/p>\n\n\n\n Yen Remains Weak<\/strong><\/p>\n\n\n\n In Asia, USD\/JPY rose 0.2% to 158.63, staying close to one-and-a-half-year highs as the yen continued to weaken. The pair had touched an 18-month high of 159.45 on Wednesday.<\/p>\n\n\n\n The yen\u2019s slide has been driven by speculation that Prime Minister Sanae Takaichi is preparing to call an early election in February. Markets view a Takaichi-led government as negative for the currency, citing her support for expansionary fiscal policy, higher public spending, and continued accommodative monetary conditions.<\/p>\n\n\n\n Investors fear that renewed stimulus would constrain the Bank of Japan\u2019s ability to normalize policy, widen yield differentials with the United States, and add further pressure on the yen.<\/p>\n\n\n\n Elsewhere, USD\/CNY dipped 0.1% to 6.9700, AUD\/USD gained 0.1% to 0.6686, and USD\/KRW rose 0.5% to 1469.49 after falling 0.8% in the previous session, when U.S. Treasury Secretary Scott Bessent said the Korean won\u2019s recent weakness was inconsistent with economic fundamentals.<\/p>\n","protected":false},"excerpt":{"rendered":" The U.S. dollar edged higher on Thursday, continuing its rebound from a shaky start to the week as expectations for near-term Federal Reserve rate cuts continued to fade. At 03:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against a basket of six major currencies, rose 0.1% to 98.980, putting it on track …<\/p>\n","protected":false},"author":9,"featured_media":122641,"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":[6827,49,37,39,36],"tags":[],"class_list":["post-122666","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-global-stock-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/122666","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=122666"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/122666\/revisions"}],"predecessor-version":[{"id":122667,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/122666\/revisions\/122667"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/122641"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=122666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=122666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=122666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}