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US Dollar extends losses, euro rallies as traders reassess rate hike bets
The dollar fell further on Thursday to two-month lows after U.S. inflation proved weaker than feared in December, prompting investors to cut crowded long positions in the currency. The euro was a big beneficiary of the move and extended its rise to $1.1479, up 0.3% on the day, while sterling and the yen also added to their gains. December’s monthly U.S. inflation figures published on Wednesday were a fraction higher than forecast and the increase in year-on-year consumer price inflation was as expected at 7% – its biggest jump since June 1982. Nevertheless, traders do not see these inflation readings as urgently ... (full story)
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- Posted: Jan 13, 2022 4:50am
- Submitted by:Category: Fundamental AnalysisComments: 2 / Views: 1,149
