The dollar index scaled higher above 108 mark on Friday morning in Asia, to a one-week high tracking higher US treasury yields. The yield on the US 10-year Treasury note rose above 4.54% on Friday, recovering slightly from over one-month lows as investors awaited the release of the PCE price index report, the Federal Reserve's preferred measure of inflation. The rebound came following a pullback late yesterday as economic data from the United States (US) indicated the economy is slowing down, warranting the Federal Reserve (Fed) to lower interest rates despite holding them steady at Wednesday's meeting. US Treasury yields edged lower amid disappointment following the last reading of 2024 of the fourth quarter Gross Domestic Product (GDP), which, although expanding, did so at a lower rate than expected. US GDP for Q4 204 dipped from 3.1% in Q3 to 2.3%. The dollar index that measures the greenback against a basket of currencies accelerated to be currently quoting at 108.07, up 0.40% on the day. Meanwhile, US President Donald Trump reiterated his threat of imposing 100% tariffs on BRICS nations if they try to replace the US Dollar with a new currency in international trade.
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