Dollar Plummets Ahead of Inflation Data Release

Ahead of the Federal Reserve’s anticipated release of the U.S. Personal Consumption Expenditures (PCE) inflation data, the U.S. dollar is experiencing a decline. Notably, analysts highlight the significance of the core PCE figures as they are crucial for the Federal Reserve’s decision-making leading up to their December meeting. If inflation exceeds expectations, the Federal Reserve might opt to keep interest rates unchanged. However, if the data falls in line with or even surpasses expectations, it could pave the way for another rate cut.