12 November 2025, 16:10 USA: Dollar Attempts to Rebound.
The dollar index hovered around 99.6 on Wednesday, attempting to rebound after three consecutive sessions of losses, as traders braced for the imminent end of the US government shutdown and grew increasingly confident that the Federal Reserve will have more room to cut interest rate. House members are set to return to Washington today to vote on a deal to restore funding to federal agencies. If the bill passes, President Trump is expected to sign it into law, paving the way for the government to resume normal operations within days. Meanwhile, market pricing suggests about a 65% chance of another 25bps Fed rate cut next month. On the data front, ADP’s high-frequency figures released yesterday showed private employers cutting roughly 11,250 jobs per week in the four weeks to October, fueling concerns over the labor market. The greenback strengthened mainly against the yen, which fell to a nine-month low against the dollar.
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