Dollar Index Lingers Under 109 Mark Amidst Easing Benchmark Us Treasury Yields

The dollar index is staying downbeat under 109 mark on Thursday tracking a pull back in benchmark treasury yields after data showed that US consumer price inflation eased pace. In December, the Consumer Price Index (CPI) rose by 2.9% annually as expected, above the previous month's 2.7% but core CPI for the same period expanded by 3.2% on year, less than the 3.3% registered in November. Also, earlier in the week, the US annual Producer Price Index (PPI) rose 3.3% in December, missing the expected 3.4% growth. This gives the Fed leeway to go ahead with interest rate cuts although newly elected Trump's incoming policies could reignite fears of inflation. Investors now await the US Initial jobless Claims data for the week ending January 10 and the US Retail Sales data for December.

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