US DOLLAR OUTLOOK: BULLISH
- The U.S. dollar, as measured by the DXY index, registers another positive week, supported by higher Treasury rates
- Bond yields surge on hotter-than-expected inflation U.S. CPI data
- Stubbornly high inflationary pressures will keep the Fed on track to deliver additional interest rate increases, supporting the dollar
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Most Read: US Inflation at 8.2%, Dollar and S&P 500 on Diverging Paths on Hot CPI
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.
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