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US Dollar index consolidating after hitting two week high

18-Dec-24 16:03 Hrs IST

The US dollar index quotes down marginally at 106.70. Dollar index is consolidating after hitting two week high. The US 10-year benchmark rate currently quotes at 4.42% mark also holding around three week high. The Fed is set to trim rates by 25bps in December, bringing borrowing costs to 4.25%-4.5%, marking its third cut this year. With inflation at 2.7% and disinflation lagging, a slower pace of cuts is likely in 2025. The Federal Reserve released a report on Tuesday showing a modest decrease by U.S. industrial production in the month of November. The report said industrial production edged down by 0.1 percent in November after falling by a revised 0.4 percent in October. In other data, Retail sales in the U.S. increased in the month of November, according to a report released by the Commerce Department on Tuesday, with auto sales once again leading the way higher. The report said retail sales grew by 0.7 percent in November after climbing by an upwardly revised 0.5 percent in October.