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Dollar Index steadies around 104 mark; All eyes on US PCE data As on : 26-Jul-24  16:03

The dollar index is steadying near 104 mark on Friday with all eyes glued to US PCE data lined up for the day. This preferred gauge of inflation is expected to throw some light on Federal course of action going forward. Meanwhile, data yesterday showed US economy accelerated at a faster pace than expected in the second quarter. The Commerce Department showed real gross domestic product in the U.S. surged by 2.8% in the second quarter after jumping by 1.4% in the first quarter and exceeding the 2% forecast. Currently, dollar index futures are quoting at 104.14, marginally up on the day and stabilizing around the levels all through the week gone by. Among basket currencies, EURUSD and GBPUSD are both trading higher by 0.04% at $1.0879 and $1.2870 respectively.

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