Forex Today: US Dollar rebounds, focus shifts to UK inflation data
Here is what you need to know on Wednesday, December 17:
Here is what you need to know on Wednesday, December 17:
The USD/CHF pair trades in positive territory around 0.7960 during the early European session on Wednesday, bolstered by a rebound in the US Dollar (USD). However, the prospect of the US Federal Reserve (Fed) interest rate cut next year could weigh on the Greenback against the Swiss Franc (CHF).
EUR/JPY holds ground after two days of losses, trading around 181.90 during the Asian hours on Wednesday.
USD/CAD rebounds from a three-month low of 1.3730, recorded in the previous session, currently trading around 1.3770 during the Asian hours on Wednesday.
The GBP/USD pair gains momentum to around 1.3425 during the early Asian session on Wednesday. The Pound Sterling (GBP) edges higher against the Greenback on the upbeat UK preliminary S&P Global Purchasing Managers' Index (PMI) data. Traders will take more cues from the Fedspeak later on Wednesday.
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