Dollar Strength Undermined, Canadian Dollar Rallies, and Resilient US Economy

The US dollar's strength is undermined by the Federal Reserve's dovish attitude and consumer price index. The Canadian dollar experiences a significant rally due to negative US dollar sentiment and favorable US economic data. Goldman Sachs expects a tempered decline for the dollar in 2024 due to the resilient US economy and high yields. Danger signs emerge for exporter stocks as the dollar's recent pullback gathers pace. The Reserve Bank of Australia's interest rate decision is awaited.