The issued data indicates that the Fed’s policy is somewhat successful in reducing inflation, as the rates were less than expectations on an annual basis and also lower than the previous reading, while they came in accordance with expectations on a monthly basis and less than the previous reading, which indicates that prices are declining as the Fed wants. The percentages are still far from the target, which is 2%. As for the weekly performance, despite the decline in the dollar, the green currency is heading to record noticeable weekly profits, and these gains came on the back of the economic data in the United States that was issued earlier this week, which enhanced the prospects for the bank to continue The US Federal Reserve continued its tightening approach for another period, as (the US Federal Reserve has repeatedly stated that the next interest rate hike moves depend on the economic data that will be issued)
The dollar is an upward sub-trend component, and currently the price is at the 101.700 area. If the 102.030 area is broken and stability above it, we will see areas 102.420/102.750, but if stability is below the 101.121 area, we will see areas 100.690/100.350/100.030
