SINGAPORE, Jan 13 ― The US dollar swayed today, flirting with seven-month lows after a sharp dive overnight as data showed US inflation was slowing, boosting hopes of the...
SINGAPORE, Jan 13 ― The US dollar swayed today, flirting with seven-month lows after a sharp dive overnight as data showed US inflation was slowing, boosting hopes of the Federal Reserve taking its foot off an aggressive interest rate hike policy.
US consumer prices surprisingly fell for the first time in more than 2-1/2 years in December, with Federal Reserve policymakers expressing their relief and paving the way for the central bank to slow the pace of monetary tightening. “Hikes of 25 basis points will be appropriate going forward,” Philadelphia Fed president Patrick Harker said in a speech to a local group in Malvern, Pennsylvania.
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