Dollar rebounds on hawkish Fed speak; Aussie dollar slumps
Investing.com - The U.S. dollar rose in early European trade Tuesday, rebounding from recent lows, while the Australian dollar slumped after the RBA hinted at the end of its cycle of rate hikes..
But he added:"We haven’t completely solved the inflation problem. We still have more work ahead of us to get it done."is due to speak on Wednesday and Thursday, and traders will be looking to see if he backs up this more hawkish stance.This adds to the mounting signs that the eurozone’s largest economy is in difficulty, and is likely to end the year in a technical recession.
However, Holzmann, the governor of Austria’s central bank, is on the hawkish end of the spectrum as far as ECB policymakers are concerned, and the majority of his colleagues may not hold these views given the region’s slowing growth.British grocery inflation has fallen below 10% for the first time since July 2022, according to data from market researcher Kantar, providing some relief for consumers as they enter the key Christmas shopping period.
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