The dollar is steady and largely unchanged this morning ahead of US inflation figures, which are due to be released this afternoon.
Consumer Price Inflation (CPI) is expected to have risen to 5.9% month-on-month and 7.3% year-on-year in January. If the figures come in as expected or above, then this could boost expectations for an interest rate hike from the Federal Reserve in March.
Federal Reserve official, Loretta Mester said yesterday that it is time for the central bank to begin raising interest rates, but “I don’t think there’s any compelling case to start with a 50 basis point” rate increase.
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