The dollar index continues to lose ground around a six week low on Friday amid high anticipation of a December Federal rate cut. Data released by the US Department of Labour (DOL) showed that US Initial Jobless Claims for the week ending November 29 declined to 191,000, compared to 218,000 in the previous week. US PCE inflation data to be unveiled later today will be closely monitored for more clues on the Federal Reserve's (Fed) policy outlook ahead of its December meeting. Meanwhile, the dollar index that measures the greenback against a basket of currencies is quoting at 98.86, down marginally on the day and remains on track to register losses for the second straight week.
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