From BigGo Finance · BigGo Finance · · 1m
Dollar Drops as Oil Inflation Fears Build
Oil prices and Fed meeting worries push dollar down ahead of key policy decision.
In brief
Oil prices and Fed meeting worries push dollar down ahead of key policy decision. Dollar index fell 0.14% to 101.65 as oil-driven inflation fears grow ahead of Fed meeting. Originally reported by BigGo Finance.
Dollar index falls
Dollar index dropped 0.14% to 101.65 as traders weighed oil-driven inflation risks ahead of Fed meeting.
Fed funds futures signal
Fed funds futures show little chance of rate hike next week with next increase expected in December.
Euro pressured by France
Euro held flat at $1.1237 as French protests and fiscal strains push 10-year borrowing costs to 24-year highs.
Australian dollar rises
Australian dollar climbed 0.41% to $0.7031 after RBA Deputy Governor Andrew Hauser called inflation outlook 'materially worse'.
“materially worse”
Sterling gains
Sterling rose 0.16% to $1.34 after UK inflation data showed stronger-than-expected rise.
Yen little change
Yen held steady at 158.12 per dollar after BoJ deputy governor noted inflation near 2% target.
At a glance
Dollar index fell 0.14% to 101.65 as oil-driven inflation fears grow ahead of Fed meeting.
