USD: Return to strength as prices stop falling

The dollar resumed its three-month long upward trajectory yesterday, powered by persistent inflation.

The Dollar Index (DXY) strengthened by 0.71% as inflation continued at 3.7% – not far off double the Federal Reserve’s target. Coming on top of last week’s outstanding non-farm payrolls growth, the Fed looks likely to continue monetary tightening.

Next week there will be retail sales on Tuesday and housing data on Wednesday.

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