Dollar Rises Ahead Of Federal Reserve Meeting Minutes Release

According to Odaily, the U.S. dollar experienced an increase ahead of the release of the Federal Reserve's meeting minutes. Last month, the Federal Reserve cut interest rates by 50 basis points, and the upcoming minutes may provide insights into future policy measures. Chris Turner, an analyst at ING, noted in a report that the market has already reduced the Federal Reserve's 2024 easing cycle by about 30 basis points over the past few weeks. However, he also questioned whether investors are currently inclined to reprice the Federal Reserve's aggressive easing cycle. Turner further mentioned that the Consumer Price Index (CPI) data, scheduled for release on Thursday, could indicate that the core inflation rate in the U.S. remained high in September. This could potentially support the dollar. The market's focus remains on the Federal Reserve's next steps and the implications of the CPI data on the broader economic outlook.