On Monday, the US dollar recovered from last week's losses due to the easing of inflationary pressures. The dollar index rose 0.35% to reach 107.99, after falling from a two-year high on Friday. The Fed data showed a moderate increase in prices: the PCE core showed a minimal increase in six months, which eased concerns about a significant rate cut by 2025. Market participants expect the rate to be cut by 38 basis points next year, which is lower than expected. The first rate cut is forecast for June 2025. The euro fell 0.2% to 1.0408 after ECB President Christine Lagarde said that inflation in the eurozone is close to the target level of 2%. The ECB continues to cut interest rates and is ready to lower them again in 2025 with reduced inflation risks. The pound remained at 1.2571. The UK economy did not show growth in the third quarter, and the Bank of England kept rates at the same level, citing a slowdown in the economy. The Japanese yen rose 0.2% to 156.72 after the dovish signals from the Bank of Japan. And the yuan rose 0.2%, reaching 7.3080, which was the highest in a year, amid concerns about the Chinese economy.
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