The dollar has strengthened against a basket of currencies following the release of US inflation data last week.
Both the inflation rate and core inflation came in higher than expected, with the inflation rate reaching its highest since 1981. Energy prices rose 34.6%, the most since September of 2005, and food costs rose by 10.1%.
This inflation data will have increased pressure on the Federal Reserve to raise interest rates. The markets now look ahead to its next meeting, which will take place on Wednesday.
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