The US dollar is trading flat as Monday’s trading session gets underway
Abstract：As the trading session begins on Monday, the US dollar is showing no significant movement. The currency gained momentum on Friday when US producer prices were reported higher than anticipated. Although the discrepancy was not sizeable, it continued the previous trend of producer price readings exceeding expectations, which was also observed during the minor Consumer Price Index increase disclosed on Thursday.
As the trading session begins on Monday, the US dollar is showing no significant movement. The currency gained momentum on Friday when US producer prices were reported higher than anticipated. Although the discrepancy was not sizeable, it continued the previous trend of producer price readings exceeding expectations, which was also observed during the minor Consumer Price Index increase disclosed on Thursday.
Given these factors, it is unlikely that many will completely disregard the potential for another Federal Reserve interest rate hike before the year's end, a situation that could benefit the dollar in the short to intermediate term. Anxiety over the global economy's growth potential is providing additional support to the greenback. Particularly, worries about China's economic status are driving this trend, ultimately benefiting the dollar viewed as a safe haven.
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