12 April 2019 : The Dollar Index has surrendered much of its gains and is now trading below the 97 mark, even as the latest US Producers Price Index exceeded market expectations, while jobless claims surprisingly fell to their lowest levels since 1969.

Coupled with the March US inflation data released earlier this week, the data underscores the central bank’s “patience” on US interest rates, and this may remain unchanged for the rest of 2019.

Markets have now dialled back expectations of a US rate cut by December to just below 50 percent, from above 57 percent earlier this week. With such odds being priced into the Greenback, any data or event that tilts the balance of risks to either side could influence the Dollar’s direction, although which is the way forward remains uncertain for the time being.

Source: Lukman Otunuga, FXTM Research Analyst

Reporting for EasyKobo on Friday , 12 April 2019 in Lagos, Nigeria