The dollar index slips under 98 mark on Friday in Asia, lingering around a one-week low amid ongoing US-China trade tensions and fears of a prolonged US government shutdown. The index is currently quoting at 97.88. The Federal shutdown has entered its third week after the Senate failed to advance legislation that would restore funding. Besides, growing bets of additional US interest rate cuts are weighing on dollar. US Federal Reserve (Fed) Governor Christopher Waller stated on Thursday that he supports another interest rate cut at this month's upcoming policy meeting. Meanwhile, the Fed's newest governor, Stephen Miran, reiterated his call for a more aggressive rate-cut trajectory for 2025 than that favored by his colleagues. Investors now eye Fed speaker later on Friday and US inflation next week for fresh impetus.

Powered by Capital Market - Live News