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Dollar advances on inflation worries; payrolls data eyed

Mount Equity Group Tokyo, Japan > News > Markets > Dollar advances on inflation worries; payrolls data eyed

U.S. dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration/File Photo

  • Dollar index up 0.3%
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NEW YORK, Oct 6 (Reuters) – The dollar climbed across the board on Wednesday, as surging energy prices fuelled concerns about inflation and interest rate hikes, knocking investors’ appetite for riskier assets and driving flows to safe-havens.

With oil prices hitting their highest in seven years, shares fell and government bond yields rose across the world early on Wednesday, before reversing some of the moves later in the session.

“What you are seeing this week is more inflationary fears percolating into the overall market,” said Minh Trang, senior currency trader at Silicon Valley Bank in Santa Clara, California.

Rising inflationary pressures could pose headwinds to growth and have implications for how soon the Federal reserve can raise interest…

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