U.S. Dollar Declines Ahead of Key Inflation Data Release

According to ChainCatcher, the U.S. dollar has weakened ahead of the release of the Federal Reserve's preferred inflation measure, the U.S. Personal Consumption Expenditures (PCE) data. Emma Wall from Hargreaves Lansdown noted that the core PCE data will be particularly significant before the Federal Reserve's December meeting. If inflation data exceeds expectations, the Federal Reserve may keep interest rates unchanged. Conversely, if the data meets or falls below expectations, it could pave the way for another rate cut.