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Questions for 2024 will be when the Fed begins cuts, and whether the first rate reduction is made to avoid over-tightening as inflation drops, or due to rapidly slowing US economic growth.
The index is on course for a 2.58% decline this year, snapping two straight years of strong gains.
By Karen Brettell
The dollar bounced on Friday after Federal Reserve Bank of New York President John Williams pushed back against the market's rate cut expectations, though the index remained on track for its worst weekly performance in a month.