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Dollar Rises as Investors Assess US Economy StrengthNew York, 27 Feb (ONA) —- The US dollar rose today to move
further from recent 11-week lows, as investors assessed the strength
of the economy and tariffs outlook after the most recent comments
from US President Donald Trump.
The dollar index, which measures the greenback against a basket
of currencies, rose 0.21% to 106.46, with the euro down 0.26% at
$1.0486.
Against the Japanese yen, the dollar weakened 0.04% to 148.96
after falling to 148.56, its lowest since 11 October 2024.
Sterling strengthened 0.09% to $1.2677.
The Canadian dollar weakened 0.9% versus the greenback to C$1.43
while the Mexican peso strengthened 0.3% versus the dollar at 20.406.
The greenback stumbled as economic data showed a
sharp drop in consumer confidence, the latest in a string of data
points that have prompted concerns about the strength of the US
economy and persistent inflation, and caused US Treasury yields to
tumble.
Markets are currently pricing in 57 bps of rate cuts from the US
Federal Reserve by the end of the year, with expectations for a cut
of at least 25 bps not topping 50% until the June meeting.—- Ends/Khalid
