Dollar oscillates on less dovish Fed comments; China inflation data awaited

The U.S. dollar traded range-bound on Thursday as traders digested remarks from policymakers and awaited economic data from the United States. Inflation data from China was also being closely watched. Overnight, several Fed speakers indicated a lack of urgency to ease policy in the U.S. The market is pricing in a reduced chance of rate cuts in March but sees a higher chance in May. The dollar slipped after rising earlier in the week, and the dollar index was hovering around 103.77. The euro and sterling held their positions, while the yen strengthened slightly. In China, the latest consumer and producer price figures were awaited to assess the economy’s deflation situation. Bitcoin rose to $44,416.00.