The dollar rose on Wednesday following data showing rising inflation in the United States and firm statements on interest rates from Federal Reserve officials.<\/p>\n\n\n\n
U.S. consumer price inflation accelerated month-on-month in January and rose 0.5 percent, as expected. This is due, among other things, to the high costs of rent and food.<\/p>\n\n\n\n
On an annual basis, prices rose 6.4 percent, but fell from 6.5 percent in December. However, the rate was higher than economists’ expectations of 6.2 percent.<\/p>\n\n\n\n
The dollar rose against most major currencies on Wednesday, with the euro falling 0.14 percent to $1.072. The single European currency touched a 10-month high of $1.103 on Feb. 2 but has been declining since then.<\/p>\n\n\n\n
The Japanese yen fell 0.2 percent to 133.34 per dollar. It touched a six-week low earlier in the session at 133.44.<\/p>\n\n\n\n
Federal Reserve officials adopted a sharp tone on Tuesday.<\/p>\n\n\n\n
The dollar index rose 0.25 percent to 103.51 points, after closing almost unchanged on Tuesday.<\/p>\n\n\n\n
The British pound fell 0.79% to $1.208 after British inflation fell more than expected in January to 10.1%, relieving some pressure on the Bank of England to continue raising interest rates.<\/p>\n\n\n\n
The Australian dollar also fell 1.2 percent to $0.69. Meanwhile, the Chinese yuan recorded in local trading its lowest level in more than a month at 6.8498 per dollar. And it reached in the latest trading 6.839 dollars.<\/p>\n","protected":false},"excerpt":{"rendered":"
The dollar rose on Wednesday following data showing rising inflation in the United States and firm statements on interest rates from Federal Reserve officials. U.S. consumer price inflation accelerated month-on-month in January and rose 0.5 percent, as expected. This is due, among other things, to the high costs of rent and food. On an annual …<\/p>\n","protected":false},"author":9,"featured_media":61086,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[8143,7163,9338,7957,8367],"class_list":["post-80043","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-interest-rate-hikes","tag-jerome-powell","tag-neel-kashkari","tag-nfp-data","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80043"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80043\/revisions"}],"predecessor-version":[{"id":80044,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80043\/revisions\/80044"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61086"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}