TechFlow, Sept. 11 — According to Jinshi Data, the dollar held steady on Thursday as traders awaited key U.S. CPI data to determine the Federal Reserve's rate-cutting path. Michalis Rousakis, G10 currency strategist at Bank of America, said: "The main event is the U.S. CPI. The market is looking for reasons to reprice Fed rate cuts and push the dollar lower." He added: "The question is whether we can reprice rate cut expectations, as current market pricing already reflects a September cut or possibly more, and has almost fully priced in three cuts by year-end." Bank of America's own forecast is for two additional cuts this year.
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