Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback keeps to 1-week maximums vs. counterparts
On Tuesday, the evergreen buck was hovering over one-week maximums versus other key currencies because hopes for approaching rate hikes by the Fed kept underpinning demand for the US currency.
The US currency gained support after on Saturday San Francisco Fed President John Williams told that the major US bank needs to raise interest rates three times in 2018 because the US economy will undoubtedly benefit from tax cuts.
The comments emerged a day after Cleveland Fed President Loretta Mester told she expects up to four interest rate lifts in 2018 due to firm American economic surge as well as low unemployment.
Measuring the greenback’s value versus a trade-weighted basket of six key currencies, the US dollar index rallied 0.21% hitting 92.27.
The common currency and the British pound went down, with EUR/USD losing 0.29% trading at 1.1933 and with GBP/USD heading south 0.31% being worth 1.3526.
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