Dollar near one-week high, hawkish Fed overshadows cbank peers

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Reuters UK

By Sujata Rao LONDON (Reuters) -The U.S. dollar scaled a one-week high on Tuesday versus a basket of major currencies, supported by expectations of a hawkish Federal Reserve meeting and continued uncertainty about the Omicron coronavirus variant. Data later in the day on U.S. factory gate inflation may cement expectations the Fed will announce an accelerated tapering of its stimulus, allowing it to wrap up bond-buying around March and proceed with rate hikes. The PPI, which has been a fairly reliable forward indicator for consumer inflation, may have surged above 9% on a headline level in Nove…

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