The dollar index holds above the 102 mark, with the Fed's hawkish rate pause supporting the dollar

According to Gate data, the U.S. dollar index edged higher during Thursday's Asian session but failed to extend its gains further, though it remained above the 102.00 integer level. In addition, the dollar index remains near the two-week high reached on Wednesday, as traders await the release of key U.S. macroeconomic data to find new drivers for the trend.

The preliminary U.S. third-quarter GDP reading and the personal consumption expenditures price index are due later today. With the market betting on a Fed rate hike in December, investors will be closely watching these data for more clues on the Fed's future policy path. Therefore, if the data come in strong, it will further reinforce market expectations and push the dollar index higher. Meanwhile, given that the Fed signaled a hawkish rate pause 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 U.S.-Iran negotiations to prevent another outbreak of war. However, the geopolitical risk premium remains, which means that even if the dollar index sees a technical pullback, it is more likely to attract dip-buying, and any decline may be relatively limited.