The dollar stabilized above 99 on Thursday after seeing sharp swings earlier in the week, as investors continued to weigh the outlook for Federal Reserve policy amid fresh economic data and concerns over Fed independence. Data on Wednesday showed US producer inflation accelerated slightly in November, following earlier reports pointing to subdued consumer price growth. Retail sales also rose more than expected in November. Meanwhile, President Donald Trump said he has no plans to fire Fed Chair Jerome Powell despite threats of an indictment from the Department of Justice. The central bank is widely expected to hold rates steady later this month, with markets pricing in two cuts starting in June. Elsewhere, Trump signaled he may delay action in Iran while signing trade measures on critical minerals and AI chips.
