Lates News

Driven by US October inflation coming in above expectations for a third consecutive month and hawkish remarks from Federal Reserve officials, the dollar strengthened broadly against major currencies on Wednesday. The dollar index rose 0.63% to 102.85, the highest since April 2025; the dollar gained 0.69% against the yen to 159.83, a more than two-month high and approaching the 160 mark; the euro fell 0.61% against the dollar to $1.11, the lowest since May 2025. The dollar rose 0.86% against the Swiss franc, the highest since mid-October. Goldman Sachs has revised its forecast to expect the Fed to raise rates in December and March next year, while Deutsche Bank expects consecutive hikes in December, January next year and March. Analysts noted that rising rate expectations have widened the dollar's interest-rate advantage, and combined with safe-haven demand stemming from the US-Israel war against Iran, this continues to provide support for the dollar.