The US dollar rallied to a high of 104.6 last seen on 9 January, after last week’s strong economic data and hawkish comments from Fed officials. Retail sales numbers jumped by the largest percentage in almost two years, while producer prices rose by the highest since June 2022. Fed officials and FOMC voting members Barkin and Bowman were coy on the size of future rate hikes. Barkin preferred smaller rate hikes for their flexibility, while Bowman only reiterated that the Fed was not done fighting inflation. The Fed’s preferred inflation metric, core PCE price index, is due Friday. Markets are also beginning to price ... (full story)