Dollar clings to 20-year high ahead of U.S. inflation data
The dollar held close to a two-decade high on Wednesday as investors waited for fresh U.S. inflation data to anticipate how aggressively the Federal Reserve will have to tighten monetary policy to keep rising prices in check. The dollar index, which measures the greenback’s strength against a basket of six currencies, was on the back foot in early European trading, slipping 0.28% to 103.65. But while expectations are for U.S. inflation to have softened to 8.1% annually in April against 8.5% in March, the dollar was still within reach of ...
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