Dollar edges higher ahead of crucial Fed meeting
Investing.com - The U.S. dollar edged higher in early European trade Monday, retaining last week’s strength at the start of a week that includes several central bank meetings, most importantly by the Federal Reserve, as well as a slew of important economic data releases.
At 03:20 ET , the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 106.445. The index gained around 1% last week.The U.S. dollar has been on the front foot of late, helped by signs of U.S. economic strength, even after a prolonged period of interest rate hikes by the Federal Reserve.
Data released early Monday showed that consumer prices rose 3.1% in October on an annual basis in the state of North Rhine Westphalia, Germany’s most populous state, a drop from 4.2% the prior month.rose 0.3% on the month in October, below the 0.6% expected, and climbed 3.5% on an annual basis, below the expected 3.8%.
The central bank is widely expected to keep interest rates on hold despite growing worries about a recession, with itsWe encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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