From The Economic Times · Reuters · · 1m 20s
Dollar Sellers Pause for US Inflation Data
US inflation data could push dollar higher as markets weigh rate hike bets.
In brief
US inflation data could push dollar higher as markets weigh rate hike bets. US inflation data may boost dollar after markets priced 85% chance of Fed rate hike next month. Originally reported by The Economic Times.
Dollar Pauses for US Data
Investors rotated back into riskier assets after oil prices fell and stocks rose.
Dollar Holds Firm in Asia
Australian dollar rose nearly 1% to $0.6921 and new zealand dollar traded at $0.5624.
Euro Jumps Overnight
Euro rose 0.7% to $1.1220 after reversing a friday fall from strong us jobs data.
US Jobs Report Boosts Hike Bets
A blowout october jobs report with hiring more than twice forecasts prices 85% chance of fed rate increase next month.
US Inflation Data Expected
Headline inflation is seen at 3.9% and core at 2.8% year-on-year in october according to economists.
Market Hike Expectations
Markets priced two us rate hikes by mid-2025 but outlook dimmed amid ai stock turbulence.
Sterling Stays Steady
Sterling sat at $1.3441 after bank of england raised interest rates for first time in three years.
Yen Defends Against Dollar
Japan's yen hovered at 157.97 per dollar after selling $97 billion in reserves to defend against falls.
At a glance
US inflation data may boost dollar after markets priced 85% chance of Fed rate hike next month.
