The Federal Reserve is in the midst of its fastest rate hike since the 1980s as it seeks to rein in the highest rate of inflation in decades.
And Fed Chairman Jerome Powell said last month that he may slow the pace of interest rate hikes in December.
And it was a performance dollar Weak on a large scale, but recovered some of its losses following the release of producer price data.
price movements
The dollar rose 0.13 percent once morest the euro to 1.05405 by 14:38 GMT, although the single European currency is still on track for gains for the third week in a row.
rise Sterling pound by 0.27% to $1.2274, not far from a six-month high of $1.2345 reached on Monday when the government unveiled reforms aimed at keeping London as one of the world’s most competitive financial centres.
The Japanese yen jumped as much as 0.7 percent, but gave up some of the gains following the PPI data was released.
And rose in the latest trading 0.38 percent to 136.165 yen.
The dollar index, which measures the performance of the US currency once morest a basket of six major currencies, is still up regarding 9.5 percent this year so far, but fell by more than 6 percent in the fourth quarter, reflecting pessimistic expectations regarding inflation and interest rates.
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The data showed US producer prices rose 0.3 percent last month, exceeding economists’ expectations of 0.2 percent in a Archyde.com poll.
While the producer price index data showed that the underlying trend of inflation is moderate, concerns have increased among investors that the consumer price data, which will be released next week, ahead of the decision. Federal ReserveIt may surprise you, exceeding your expectations.
The Federal Reserve is in the midst of its fastest rate hike since the 1980s as it seeks to rein in the highest rate of inflation in decades.
And Fed Chairman Jerome Powell said last month that he may slow the pace of interest rate hikes in December.
And it was a performance dollar Weak on a large scale, but recovered some of its losses following the release of producer price data.
price movements
The dollar rose 0.13 percent once morest the euro to 1.05405 by 14:38 GMT, although the single European currency is still on track for gains for the third week in a row.
rise Sterling pound by 0.27% to $1.2274, not far from a six-month high of $1.2345 reached on Monday when the government unveiled reforms aimed at keeping London as one of the world’s most competitive financial centres.
The Japanese yen jumped as much as 0.7 percent, but gave up some of the gains following the PPI data was released.
And rose in the latest trading 0.38 percent to 136.165 yen.
The dollar index, which measures the performance of the US currency once morest a basket of six major currencies, is still up regarding 9.5 percent this year so far, but fell by more than 6 percent in the fourth quarter, reflecting pessimistic expectations regarding inflation and interest rates.