The dollar index on Wednesday dropped below 100 points for the first time since April 2022. The dollar index (the exchange rate against a basket of currencies of six US trading partner countries) declined by 0.54% to 99.98 points during Thursday's trading. The indicator is below 100 points for the first time since April last year. The EUR/USD exchange rate rose to $1.1189 from the previous closing level of $1.1128. The USD/JPY exchange rate declined to 138.25 yen from 138.5 yen. Investors continue to evaluate US inflation data. According to statistics published yesterday, annual inflation in the country slowed to 3% by the end of June from 4% a month earlier. Analysts had forecast the indicator at 3.1%. Due to the unexpected slowdown in inflation, the markets expect the easing of the monetary policy of the US Federal Reserve. About 95% of the analysts surveyed predict a 25 basis point increase in the key rate in July. However, about 74% of experts predict only one rate increase by 25 basis points in the period from July to November. At the June Fed meeting, the rate was kept at 5-5.25%. Analysts note that more «dovish» expectations from the Federal Reserve System caused the weakening of the dollar, the index of which is declining for the fourth trading session in a row.
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