The dollar index is steadying around 98 mark on Thursday as investors turn cautious ahead of US Gross Domestic Product (GDP) and Personal Consumption Expenditures (PCE) inflation data for clues on interest rate cuts. Moreover, concerns about the Federal Reserve's (Fed) independence lingered after US President Donald Trump fired Fed Governor Lisa Cook over allegations of mortgage borrowing misconduct. New York Fed President John Williams on Wednesday emphasized the importance of central bank independence as Trump looks to exert control over monetary policy. The dollar index that measures the greenback against a basket of currencies is quoting at 98.07, down 0.06% on the day. Among basket currencies, EURUSD and GBPUSD are seen marginally higher in tune with weakness in the greenback.
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