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The US dollar rose to a three-month high due to expectations of interest rate cuts.
According to ChainCatcher news and Jin10 reports, the US Dollar Index DXY has risen to a three-month high due to a decrease in market expectations for further immediate rate cuts in the US. The Fed cut rates last week as expected, but Fed Chairman Powell indicated that another rate cut in December is not a certainty. Analysts noted that the ongoing government shutdown has led to a lack of official data, and the absence of new unfavourable information has kept market volatility low while demand for the dollar remains strong.