US dollar edged down to 5-month low

The core PCE price index advanced 3.2 percent year-on-year in November, the smallest rise since April 2021, excluding the volatile food and energy components. The Federal Reserve tracks the PCE price measures for its 2 percent inflation target. It is observed that respective currency has came under selling pressure after last week's Federal Reserve meeting that encourages the traders to ping on several rate cuts in 2024.

The current stance of Federal Reserve movement in holding the rates as it is has fostered the case for the dollar to keep falling into 2024. Consequtively, the dollar on Friday, weakened to a near nine-year low against the Swiss franc. It was last down in January 2015 levels,0.02 percent, when the Swiss National Bank sparked off significant volatility by discontinuing its policy of having a minimum exchange rate for the franc against the euro.

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The dollar edged higher against the yen last up 0.25 percent at 142.465 yen, after the data showed Japan's core inflation slowed sharply in November. The dollar index was last down 0.08 percent at 101.7, after dipping as low as 101.42, its lowest since late july. The index is on pace to finish the year down about 2 percent.

Benchmark 10-year Treasury yields ended slightly higher on the day while, benchmark 10-year yields ended up less than a basis point at 3.897 percent. Two-year yields fell 2 basis points to 4.325 percent.

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As per the energy market, oil prises eased amid expectations that Angola could increase output after leaving OPEC. US Crude oil fell 33 cents and got settled at $73.56 per barrel, while Brent dipped to 32 cents at $79.07.

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