In a report published on Friday, Fitch Ratings noted that easing supply-chain pressures should help reduce core goods inflation, as reported by Reuters.

Additional takeaways

"Recent improvements to global supply chain pressures are encouraging."

"Risks to global supply chain remain given China's zero Covid-19 policy, while gas rationing in Europe may affect industrial supply chains."

"Global supply-chain disruptions are beginning to unwind as shipping rates decline, time taken to deliver goods falls quickly."

"Global supply-chain disruptions are beginning to unwind as port congestion eases and the backlog of orders is cleared."

Market reaction

This report doesn't seem to be having a significant impact on the dollar's performance against its rivals. As of writing, the US Dollar Index was up 0.5% on the day at 105.60.