Dollar edges higher on higher yields; euro awaits inflation data
Investing.com - The U.S. dollar edged higher in early European trade Wednesday ahead of key inflation data, helped by rising expectations the Federal Reserve will delay interest rate cuts until later in the year.
Additionally, doubts remain over the timing of the first interest rate cut by the Federal Reserve, and with inflation remaining above target the possibility of another hike remains. “The highlight of the eurozone calendar this week will be Friday's release of flash eurozone CPI for May. Input into that release will be today's German CPI data, where consensus is looking for a slight uptick to 2.4% YoY from 2.2%,” added ING.
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