The dollar was reaping the benefits of Republican Donald Trump’s victory in the US presidential election last week, which led to the US currency at its highest level since May 1 at 106.21 points against a basket of currencies.
The Consumer Price Index (CPI) for October in the US showed results consistent with market expectationsas they reflected a slight increase in prices. The October figure rose 0.2%, in line with the increase recorded the previous month.
In annual terms, the CPI reached a 2.6%exceeding the 2.4% recorded in September, but aligning with market expectations, which also anticipated an increase of 2.6%.
Before this key data, investors were measuring the impact of tax reduction policies and new trade tariffs under the incoming Government, measures seen as inflationary that could lead the Federal Reserve to curb the extent of its easing of interest rates.
FED: what decision they can make regarding the rate
The president of the Fed, Jerome Powellis scheduled to speak this week, ahead of wholesale price data on Thursday and retail sales on Friday.
According to CME Group’s FedWatch tool, markets currently assign a 60% probability of a further quarter-point Fed cut in Decembercompared to 84% a month ago.
Other currencies: how they are quoted
He yen It exceeded 155 units per dollar, the weakest level of the Japanese currency since July 30. He euro It was down 0.1% to $1.0611, near a one-year low of $1.059425.
The pound sterling fell to $1.27370, approaching a three-month low hit on Tuesday at $1.27190.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
