US Dollar Index Rebounds Ahead of Crucial PCE Data Release

The US Dollar Index has recovered to near 99.00 in early European trading hours on Wednesday, ahead of the release of the July Personal Consumption Expenditures (PCE) Price Index data.

Traders are awaiting the PCE data for insight into inflation trends, which could impact monetary policy decisions by the Federal Reserve.

The US Treasury has announced plans to double its bond buyback operations to at least $4 billion per operation in an effort to stabilize surging long-term borrowing costs.