Dollar buoyant as Fed readies to step up inflation fight

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar hovered near a two-year high against a basket of currencies on Thursday, after meeting minutes showed the Federal Reserve preparing to move aggressively to head off inflation. The U.S. dollar index, which measures the greenback against six majors, touched its highest since May 2020 overnight at 99.778 and held nearby at 99.575 in early Asia trade. Commodity currencies retreated from recent highs as oil prices have dipped and the euro touched a one-month trough of $1.0874. It recovered to $1.0911 in morning trade. Minutes from the Federal Reserv…

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