SINGAPORE/LONDON—The U.S. dollar steadied on Monday amid fading expectations of a less aggressive Federal Reserve interest rate hike after Governor Christopher Waller said the central bank was not softening its fight against inflation.
A modest miss on U.S. inflation on Thursday put pressure on the dollar, which declined almost 4 percent in a week, marking its worst week in more than two and half years.
But Waller said on Sunday that the inflation print last week was “just one data point” and that other similar readings would be needed to show convincingly that inflation was slowing.
Waller did add, however, that the Fed could now start thinking about hiking at a slower pace….