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US dollar advances on continuous rise of inflation

The US dollar gained ground against most of a basket of currencies in late trading amid rising inflation pressure and expectation of an earlier hike of interest rate by the Federal Reserve. The dollar index, which measures the greenback against six major peers, rose 0.39 per cent at 96.8639 in late trading on Wednesday. US personal consumption expenditure price index in October grew 0.6 per cent month on month, higher than 0.4 per cent of expansion in the previous month,…

Dollar dips but shows biggest weekly gain in almost 3 months – CNBC

Dollar dips but shows biggest weekly gain in almost 3 months  CNBC The U.S. dollar faces ‘win-win’ scenario as it trades near 16-month high, analyst says  MarketWatch Dollar dominates as inflation heats up  Reuters BofA Sees U.S. Dollar Extending Rally on Inflation-Fighting Fed  Bloomberg US Dollar Index set to see further gains towards 99.50 – Commerzbank  FXStreet View Full Coverage on Google News…

Turkey’s lira crashes to new low against US dollar, euro | DW | 23.11.2021

The Turkish lira hit new lows against the US dollar and euro. Analysts place the blame on the low interest rates and the cheap money policies preferred by President Recep Tayyip Erdogan. Turkey’s lira weakened to a new record low at 12.73 against the US dollar and 14.31 against the Euro on Tuesday. The Turkish lira is by far the worst performing emerging market currency this year. It has lost 40% of its value this year, including shedding17% just since…

A money changer counts U.S. dollar banknotes at a currency exchange office in Ankara, Turkey November 11, 2021. REUTERS/Cagla Gurdogan NEW YORK, Nov 15 (Reuters) – Surging inflation and expectations of a potentially more hawkish Federal Reserve are accelerating a rally in the U.S. dollar, buoying the currency to a near 16-month high against its peers and putting it on pace for its biggest annual gain in six years. On Monday the U.S. Dollar Currency Index rose 0.3% to 95.437,…

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking LONDON/NEW YORK, Nov 10 (Reuters) – The dollar rose against major peers on Wednesday, snapping three days of weakness, after U.S. consumer prices surged at their highest rate since 1990 and fuelled fears inflation could prove stickier than Federal Reserve expectations. The consumer price index rose 0.9% last month after gaining 0.4% in September and in the…

US dollar to rupee: Indian currency today falls sharply against USD

The rupee fell sharply today against US dollar, weighed down by a muted trend in domestic equities and stronger greenback in the overseas market. The rupee ended 32 paise lower at 74.37 against the US currency. Also, persistent foreign fund outflows also put pressure on the domestic unit.  “This week the spot remained negative on IPO related inflows and subdued dollar. However, the narrative is changing as inflationary concerns are increasing globally and as we proceed with the week, the…