The dollar is strong against a basket of currencies this morning, driven by high inflation and the Federal Reserve’s intention to tighten monetary policy quickly.
Last week, minutes from the Federal Reserve’s March meeting, as well as comments from policymakers, revealed that the Fed could move even faster with scaling back monetary policy than initially expected.
This week, US inflation figures for March will be released, expected to rise to 8.5% year-on-year. Retail sales and consumer sentiment figures will be released Thursday, whilst a series of Federal Reserve officials will speak throughout the week.
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