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Dollar Index: Intraday Analysis & Forecast update

The dollar index fell to below 101 on Wednesday, the lowest in five months, as markets continued to position according to signs of cooling US inflation, and consequently, incoming rate cuts from the Federal Reserve.

Data released on Friday showed that the core PCE index, the Fed’s preferred inflation gauge, fell to 3.2% in November from 3.4% in October, coming in below forecasts of 3.3%.

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