US Dollar strengthens due to CPI meeting expectations and hawkish Fed remarks

From Investing.com: 2024-11-14 06:26:00

US CPI data met expectations, boosting hopes for a rate cut, but Fed officials like Dallas Fed chief Lorie Logan urge caution, causing the dollar to hit one-year high. Gold prices continue to fall as stocks stumble, while the dollar strengthens after the CPI report. Japanese yen weakens against the dollar, entering last year’s intervention zone. Australian dollar remains steady as RBA is not expected to cut rates soon. Equities in Asia and Europe reel from Trump victory, but US futures turn green. Gold prices continue to decline while cryptocurrencies like Bitcoin and Ethereum soar.



Read more at Investing.com: US Dollar Continues Uptrend on CPI, Hawkish Fed Remarks