Dollar at two-decade high as CPI keeps aggressive U.S. rate hikes likely

Published by
Reuters UK

By Kevin Buckland TOKYO (Reuters) – The dollar hit a two-decade high on Thursday after U.S. inflation moderated less than markets had expected, keeping the Federal Reserve on course to tighten policy aggressively. The safe-haven greenback also got support amid a slide in global equities amid investor worries that central banks are behind the curve in trying to rein in consumer prices, with growth already facing risks from China’s prolonged COVID-19 lockdowns. Riskier currencies like the Aussie and New Zealand dollars sank along with cryptocurrencies. The dollar index, which measures the buck a…

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