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The US dollar index falling below 107 and reaching its lowest level in over two months indicates a weakening of the dollar relative to a basket of other major currencies. This decline is primarily driven by: Weak US Economic Data: The unexpected drop in retail sales and signs of cooling inflation (as reflected in the…
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Interest Rates and Inflation: The GBP has strengthened to $1.26, a two-month high, as investors expect upcoming economic data to show persistent inflationary pressures in the UK. This could lead the Bank of England (BoE) to slow down the pace of interest rate cuts, despite having already cut rates this month. Higher inflation typically supports…
