� The USD ended the week lower as it pared its weekly gain on Friday after U.S. producer prices unexpectedly fell in December, raising expectations of an early U.S. rate cut.
� The U.S. producer price index, a gauge of wholesale prices, fell 0.1% for the month and ended 2023 up 1% from a year ago, the Labor Department reported Friday.
� However, U.S. consumer prices edged up by 0.3% in December, on an annual basis, up by 3.4%, as per the data released on Thursday, ahead of expectations for a 0.2% gain and a 3.2% rise, respectively.
� Federal Reserve Bank of Cleveland President Loretta Mester said that it is still too early to consider cutting rates in the March meeting, highlighting the latest inflation data, which shows that the Fed can't yet claim victory against inflation.
� INR ended the week higher against USD as the sentiment improved, as Chinese inflation and trade data signaled some signs of recovery in Asia�s largest economy in December.
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