US Dollar Forecast: Bullish Bias Intact as Hot CPI Will Keep Fed on Hawkish Path

From dailyfx.com

The U.S. dollar, as measured by the DXY index, rose this past week, up about 0.45% to 113.25 ahead of the weekend, supported by a surge in U.S. Treasury yields following hotter-than-expected U.S. inflation data. While headline annual CPI slowed modestly in September, the core gauge surged to its highest level since 1982, clocking in at 6.6% from 6.3% in August, a sign that price pressures remain stubbornly high in the economy. With inflation risks skewed to the upside, the Fed is likely to continue to front-load interest rate increases in the coming months, even if the aggressive tightening cycle triggers a painful ... (full story)