Fed's hawkish rate pause supports the dollar, with the dollar index holding the 102 mark.

BlockBeats news, October 29 - The US dollar index edged higher during Thursday's Asian session but failed to extend its gains further, though it remained above the 102.00 integer mark. Additionally, the US dollar index remains close to the two-week high touched on Wednesday, with traders awaiting the release of key US macroeconomic data to find new drivers for the trend.

The preliminary reading of US third-quarter GDP and the personal consumption expenditures price index are due later today. With the market betting on a Federal Reserve rate hike in December, investors will closely watch these data for more clues on the Fed's future policy path. Therefore, if the data comes in strong, it will further reinforce market expectations and drive the US dollar index higher.

Meanwhile, given that the Fed signaled a hawkish pause on rate hikes on Wednesday, even if these key data fall short of expectations, the market's immediate reaction may be relatively limited. At the same time, regional mediators led by Qatar are working to push for the resumption of US-Iran negotiations to prevent another outbreak of war. However, the geopolitical risk premium still exists, which means that even if the US dollar index sees a technical pullback, it is more likely to attract dip-buying, and the decline may be relatively limited. (Jinshi)