Dollar Eases From 16-Month High as Traders Seek Clues on Fed Rate PlansEpoch Times, United States politics | The Epoch Times

LONDON—The dollar eased on Monday from an almost 16-month high versus major peers, as traders awaited fresh clues on Federal Reserve interest rate hike plans on the back of red-hot inflation. The dollar had been buoyant since Wednesday, when data showed U.S. consumer prices rose last month at the fastest annual pace since 1990, casting doubts on the Fed’s view that price pressure will be transitory. Money markets are pricing a first rate increase by July next year. By 0845 GMT, the dollar index—which measures the currency against six peers—flattened at 95.146, after touching its highest level since July 2020 on Friday. Investors will be watching any comments coming out of a virtual summit between President Joe Biden and Chinese leader Xi Jinping later on Monday. In terms of economic data, the main event on the U.S. calendar will be Tuesday’s retail sales data, particularly after a survey on Friday …Read More

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