LONDON (Reuters) -The dollar was little changed on Monday in cautious during a U.S. public holiday, while risk-sensitive sterling slid ahead of a busy week for UK economic data. The dollar index, measuring the U.S. currency against six peers, was up 0.13% at 102.64, on the Martin Luther King (MLK) Day holiday. Bets on Federal Reserve cuts this year, beginning as early as March, have intensified after data on Friday showed U.S. producer prices unexpectedly fell in December. [US/] Market pricing now points to a 77% chance that the U.S. central bank will begin easing rates in March, up from 68% a week ago, according to the CME FedWatch tool. “Despite the upside surprise to the CPI on Thursday, investors…
Published Date: 2024-01-15
Source: Global Banking & Finance Review
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