Dollar Dips, Euro Rises; Gold Surges on Fed Hopes
Update: 2025-11-26
Description
The dollar experienced a slight decline on Wednesday, influenced by a weak manufacturing index and strong stock market performance. The potential nomination of Kevin Hassett as the next US Federal Reserve Chair, known for his dovish stance on interest rates, further pressured the dollar. Meanwhile, the euro surged to a one-week high following balanced risks to economic growth and inflation in the Eurozone. Gold and silver prices also reached one-and-a-half-week highs due to anticipated lower interest rates and increased likelihood of a rate cut next month. Markets now expect an eighty percent chance of a federal funds target range cut at the Federal Open Market Committees early December meeting.
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