The United States inflation data moved financial markets on Wednesday and led traders to calculate that the Federal Reserve will now wait until September before starting to cut interest rates, a scenario that strengthened the position of the greenback.
The United States inflation data moved financial markets on Wednesday and led traders to calculate that the Federal Reserve will now wait until September before starting to cut interest rates, a scenario that strengthened the position of the greenback.
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He and in weakened on Wednesday, pushing the dollar at its highest level against the Japanese currency since 1990while the markets were alert to any sign of intervention by the Japanese authorities to support the Japanese currency.
The rise in the dollar came after the latest inflation data from the United States, which showed that the Consumer Price Index (CPI) rose 0.4% monthly in March, compared to the 0.3% advance expected by economists surveyed by Reuters. In the year-on-year comparison, inflation stood at 3.5% compared to the estimate of 3.4%.
Excluding the volatile food and energy components, the underlying figure rose 0.4% month-on-month in March, versus expectations for a 0.3% gain. Annually, it gained 3.8%, compared to the estimated increase of 3.7%.
The dollar rose 0.4% to 152.41 yen, after previously touching the 152.47 yen mark, the highest level since the mid-1990s. The dollar index, meanwhile, added 0.7% to 104.7 units.
The United States inflation data moved financial markets on Wednesday and led traders to calculate that the Federal Reserve will now wait until September before starting to cut interest rates, a scenario that strengthened the position of the greenback.
Source: Ambito
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