Chart Tracker

Dollar Dives on Powell's Inflation Stance, Services Slowdown

By Mackenzie Crow

4/3, 16:02 EDT
  • The Bloomberg Dollar Spot Index experienced a notable decline of 0.4% on March 29, 2024, marking the largest drop in nearly four weeks, as indicated by the latest data point within a volatile two-month period.
  • The downward movement in the dollar index reflects easing price pressures in the US services sector and comments from Federal Reserve Chair Jerome Powell on the need for sustained inflation reduction before considering interest rate cuts.