Dollar edges down ahead of data, set for first monthly drop in 2024

Singapore, May 28 (BNA): The dollar edged down on Tuesday, but remained in tight ranges against peers, ahead of key inflation data from major economies this week that could inform the global interest rate outlook.

 

Markets are currently more than fully priced for a U.S. rate cut in December. They also discount an 80% chance of such a move in November and a 60% chance in September, Reuters reported.

 

Against a basket of currencies, the dollar was down 0.11% to 104.44, for a 1.7% decline on a monthly basis.

 

 

 

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