Dollar at one-week high on Middle East uncertainty, hot US inflation
Hotter U.S. inflation and renewed Middle East uncertainty lifted the dollar to a one-week high, while markets priced out a Fed rate cut this year.
- The dollar held near a one-week high on Wednesday, driven by renewed Middle East tensions and unexpectedly high U.S. CPI data that boosted demand for the greenback.
- CPI surged 3.8% over the past year, largely driven by an oil price shock triggered by ongoing Middle East conflicts that kept Brent crude above $100 a barrel.
- On Tuesday, the Senate confirmed Kevin Warsh to a 14-year term as Federal Reserve governor, an appointment Commerzbank analysts said may influence future FOMC rate-cut strategy.
- Currency volatility prompted Treasury Secretary Scott Bessent to visit Tokyo on Tuesday, though the yen fell 0.1% as traders doubted intervention alone would strengthen the currency.
- President Donald Trump called the Iran ceasefire 'on life support' and stated he does not need Beijing's help ahead of his meeting with Chinese President Xi Jinping later this week.
12 Articles
12 Articles
Dollar Surges Amid Middle East Uncertainty and Rising U.S. Inflation
The dollar rose to a one-week high due to unrest in the Middle East and surprising U.S. inflation data. The euro and sterling fell as traders focused on Federal Reserve actions, while oil prices remained above $100. The yen was also in focus, with concerns over market intervention.
Dollar at one-week high on Middle East uncertainty, hot US inflation
By Lucy Raitano and Jiaxing Li HONG KONG, May 13 (Reuters) – The dollar held near a one-week high on Wednesday on renewed uncertainty in the Middle East and as traders digested a hotter-than-expected U.S. inflation print and closely watched the yen. The euro slipped 0.2% to $1.171675 and sterling traded 0.2% lower at $1.3524 . The risk-sensitive Australian dollar was unchanged at $0.72410 and the New Zealand dollar traded down 0.3% at $0.59345 …
Dollar near one-week high as hot US inflation fans Fed hike bets, peace talks stall
HONG KONG: The dollar held near a one-week high on Wednesday as risk sentiment soured after a hot US inflation reading sent Treasury yields higher, and oil inched up on renewed Middle East uncertainty.
US Dollar Strengthens Further As Hotter Inflation Data Shifts Fed Outlook: MUFG
BitcoinWorld US Dollar Strengthens Further as Hotter Inflation Data Shifts Fed Outlook: MUFG The US Dollar extended its recent rally on Wednesday, buoyed by a fresh set of inflation data that came in hotter than economists had anticipated. According to a note from MUFG Bank, the currency’s upward momentum is a direct response to the report, which has recalibrated expectations for the Federal Reserve’s next policy moves. Inflation Data Fuels Dol…
Dollar Surges on Hot Inflation Print, GBP/ Traders Face Fresh Volatility
The pound got crushed Friday. U.S. inflation came in way hotter than expected, and that sent the dollar ripping higher… Read the original on Dollar Surges on Hot Inflation Print, GBP/ Traders Face Fresh Volatility. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Middle East oil crisis pushing American inflation to three-year high
WASHINGTON — The U.S. war with Iran is causing rampant inflation for Americans as soaring fuel prices ripple through the broader economy and reignite fears of a prolonged energy-driven cost crisis. New figures released Tuesday by the U.S. Labor Department show annual inflation climbed to 3.8 per cent in April, up sharply from 3.3 per cent in March and 2.4 per cent in February. Economists say the increase is being driven largely by rising gasolin…
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