The hawkish stance of Fed officials provides support for the dollar, and GDP data may trigger fluctuations in the dollar

According to Jinshi, George Pavel, general manager of Capex.com Middle East, said in a report that the consistent and obvious hawkish stance of Federal Reserve officials has provided support for the US dollar. Minneapolis Federal Reserve Bank President Kashkari advocated delaying interest rate cuts until inflation was observed to improve significantly, and even hinted that interest rates might be raised if inflation persisted.

He said that US consumer confidence data was better than expected, but a series of other indicators could trigger fluctuations in the US dollar, including US GDP data released on Thursday and personal consumption expenditure data released on Friday. If GDP data continues to slow, the US dollar may face some pressure.