The dollar continues to find support amidst rising treasury yields
The US dollar is gaining ground on other major currencies during early Tuesday trading. The greenback continues to find support amidst rising treasury yields, with the markets anticipating the release later today of the latest US inflation data, which is expected to reveal the highest rise in consumer prices in decades. Against a background of escalating prices, the Fed’s new-found hawkishness is likely to force an acceleration in the pace of monetary policy tightening, with the upcoming meetings likely to deliver rate hikes of 50 basis points – a scenario that entails further dollar gains.
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