On January 16th, the US Dollar is poised to achieve a third consecutive week of gains on Friday. This follows the release of better-than-expected US economic data, which has tempered market expectations for an imminent interest rate cut by the Federal Reserve. The federal funds futures market has pushed back the anticipated timing of the next rate cut to June, citing improved employment data and persistent concerns over inflation expressed by central bank policymakers.

Capital firm analyst Kyle Rodda wrote in a report: "The US Dollar has exhibited firmness since the start of the year. Both the US weekly initial jobless claims data and some manufacturing survey results have outperformed expectations, thereby lowering the perceived probability of an imminent Fed rate cut."