On Monday the US dollar came close to its strongest level against the pound this year, before slipping away late yesterday. It remains strong against the euro, trading around its highest since the start of summer.
With several members of the FOMC (the Federal Reserve’s Open Market Committee), including Fed Chairman Jerome Powell, speaking amidst the release of US producer prices (PPI), the markets will be looking for any up-to-the-minute comments on US inflation and how it will be tackled, if at all. Tomorrow will be the headline inflation figures, which in September hit a 13-year high.
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