The Federal Reserve is in the midst of its fastest rate hike since the 1980s as it tries to curb the highest inflation rate in decades.
And Fed Chairman Jerome Powell said last month that he could slow the pace of interest rate hikes in December.
And it was a performance dollar Weak broadly, but recovered some of its losses following the release of producer price data.
price movements
The dollar was up 0.13% against the euro at 1.05405 as of 14:38 GMT, although the single European currency is still on track for gains for the third consecutive week.
climb GBP by 0.27% to $1.2274, not far from the six-month high of $1.2345 reached on Monday as 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% but gave up some of the gains after the release of PPI data.
And in recent trading, it rose 0.38% to 136.165 yen.
The dollar index, which measures the US currency’s performance against a basket of six major currencies, is still up about 9.5% this year, but fell more than 6% in the fourth quarter, reflecting pessimistic expectations on inflation and interest rates.
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Data showed U.S. producer prices rose 0.3% last month, beating economists’ expectations by 0.2% in a Reuters poll.
While producer price index data showed the underlying inflation trend to be moderate, concerns have risen among investors that consumer price data, to 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 tries to curb the highest inflation rate in decades.
And Fed Chairman Jerome Powell said last month that he could slow the pace of interest rate hikes in December.
And it was a performance dollar Weak broadly, but recovered some of its losses following the release of producer price data.
price movements
The dollar was up 0.13% against the euro at 1.05405 as of 14:38 GMT, although the single European currency is still on track for gains for the third consecutive week.
climb GBP by 0.27% to $1.2274, not far from the six-month high of $1.2345 reached on Monday as 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% but gave up some of the gains after the release of PPI data.
And in recent trading, it rose 0.38% to 136.165 yen.
The dollar index, which measures the US currency’s performance against a basket of six major currencies, is still up about 9.5% this year, but fell more than 6% in the fourth quarter, reflecting pessimistic expectations on inflation and interest rates.
