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US dollar climbs on Fed rate hike expectations, Currencies Direct says

By Public Technologies
  • The US dollar climbed as markets priced in possible back-to-back Federal Reserve interest rate hikes over the next three months.
  • Tuesday’s hotter-than-forecast inflation data reinforced expectations of rapid Fed tightening.
  • The euro weakened as dollar strength weighed; rising French government borrowing costs renewed fears of a bond crisis.
  • Sterling showed little reaction today to UK GDP growth accelerating to 0.7% in the third quarter, as expected.
  • The Canadian dollar edged higher late in the session as oil prices rose.


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