“The numbers were somewhat above expectations, I don’t think it will surprise many“said Minh Trang of Silicon Valley Bank.” You don’t have to go far, just to the grocery store or the gas station, to see that prices have gone up. “
“As for the Fed, it gives it more support to change its monetary policy stance in relation to a reduction (of the stimulus) and a potential rate hike,” he added.
Following the CPI data, the dollar hit a new three-year high against its Japanese pair, at 113,800 yen, before falling and trading at 113,555 units.
Rising energy prices are raising concerns about inflation and bets that the Fed may have to act more quickly to normalize its policy than some authorities had projected, sending the yield on Treasuries to two. years to its highest in over 18 months overnight.
The dollar index, which compares the greenback with a basket of six prominent currencies, depreciated slightly to 94,311 units for the first time since late September 2020, supported by higher bond yields.
The euro was up 0.25% at $ 1.1559, slightly above the $ 1.1522 hit in the previous session, its lowest in nearly 15 months.
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