Dollar index dips as jobless claims rise, Fed rate cut seen likely

WASHINGTON – The experienced a slight downturn today as expectations emerged of a minor increase in jobless claims. Amidst this backdrop, market sentiment is leaning towards a 60% probability of a rate cut by the Federal Reserve in March. This anticipation is set against a backdrop of a potential upturn in manufacturing, as indicated by the Philadelphia Fed manufacturing outlook.

The January meeting of the Federal Reserve is projected to maintain the current interest rates, following signals from the Beige Book that point to moderate economic growth and subsiding price pressures.

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