The dollar made a steady start on Monday but fell below the 15-week peak reached after the Nov. 5 release of jobs data, as wary investors remained watchful of the central bank’s continued tolerance of inflation amidst the market’s volatile interest rate projections. Investors are waiting for U.S. Consumer Price Index data due on Wednesday. The inflation indicator will show whether the Fed’s insistence on not hiking interest rates holds water. Following stronger-than-expected payrolls data, the dollar index was little changed, standing at 94.229 at 0853 GMT and 94.176 at 1257 GMT. “The tightening labor market will keep pressure on the Fed to keep tightening policy going forward, and speed up rate hike plans if labor force participation does not improve as expected,” MUFG strategist Lee Hardman wrote in a note to clients. The dollar steadied at $1.1573 per euro after briefly touching a 15-month record of $1.15135. Repeating the …
Dollar Falls From 15-Month High, Central Banks Hold Interest Rates Steady Amidst Rising Inflation
November 8, 2021
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Business & EconomyCentral Bankconsumer price indexdollar indexEconomieseconomyinflationMarket WatchUSUS News
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