In the early hours of Wednesday, the US dollar experienced a decline to its lowest point in two months prior to the release of a significant US inflation report. Meanwhile, the British pound saw a rise to a 15-month high due to expectations of an upcoming rate hike in the UK.
At precisely 2:00 PM Mecca time, the US dollar index experienced a 0.23% decrease to 101.165 when compared to a selection of six foreign currencies. This drop extended the losses the currency has incurred since the start of the week, which was prompted by a series of Federal Reserve officials indicating that the central bank is approaching the conclusion of its monetary policy tightening cycle. The event took place on the 25th.