πΊπΈ The US dollar has climbed to a two-month high as renewed inflation concerns boost expectations of another Fed rate hike.
The DXY index hit 100.89, its highest level since July 30, after the Federal Reserve warned that inflation could remain above its 2% target.
Last week, the Fed raised interest rates to 3.75%β4.00%, marking its first hike since 2023, while projections pointed to another increase later this year.
Meanwhile, CME FedWatch puts the probability of an October rate hike at 53%.
The DXY index hit 100.89, its highest level since July 30, after the Federal Reserve warned that inflation could remain above its 2% target.
Last week, the Fed raised interest rates to 3.75%β4.00%, marking its first hike since 2023, while projections pointed to another increase later this year.
Meanwhile, CME FedWatch puts the probability of an October rate hike at 53%.
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