Forex Today: Hot US inflation data lifts US Dollar as markets brace for Retail Sales and UK GDP
The US Dollar Index (DXY) rises toward the 98.50 region, reaching its highest level since late April after US Producer Price Index (PPI) data came in much hotter than expected.
The US Dollar is likely to strengthen further as traders react to the hot inflation data, potentially pushing the DXY above 98.50. This could lead to increased volatility in forex pairs involving the USD.
The US Dollar Index (DXY) rises toward the 98.50 region, reaching its highest level since late April after US Producer Price Index (PPI) data came in much hotter than expected.
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