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A money changer holds stacks of US dollar notes in Jakarta, August 29, 2013. REUTERS/Beawiharta
The USD slipped lower after inflation came in cooler-than-expected in October.

Thomson Reuters

  • The US dollar saw its biggest sell-off so far in 2023 following the October inflation report, BofA said. 
  • The dollar index has slid 2% since peaking at around 107 in early October.
  • Investors are expecting the Fed to start loosening monetary policy in 2024. 

The drop in inflation in October fueled the biggest sell-off of the year for the US dollar, according to Bank of America strategists.

Tags
Markets, mi-exclusive, us-dollar, Inflation, us-dollar-index, inflation-outlook, dollar-outlook, fed-inflation, fed-interest-rates, fed-rate-cuts-forecast, interest-rates-outlook, us-economy-and-markets, DXY
Source
October's Goldilocks inflation report sparked the biggest sell-off in the dolla…