Dollar index rebounds to one-week high above 98 mark
The dollar index is seen rebounding to a one week high above 98 mark as investor continue to monitor the possibility of a rate cut amid US data that showed a jump in US July wholesale prices, supporting the DXY. Easing geopolitical optimism after Mondays meeting between Trump and Zelenskyy in the White House is also providing support to the greenback. Meanwhile, investors await minutes of the Federal Open Market Committee (FOMC) from its July 29-30 meeting alongside Fed's Jackson Hole Economic Policy Symposium later on Friday for further clues on US interest rate policy. The dollar index that measures the greenback against a basket of currencies is quoting at 98.22, up 0.10% on the day. Among basket currencies, EURUSD and GBPUSD lost some impetus tracking dollar rebound and are currently quoting at $1.1655 and $1.3480 respectively.
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