Dollar slumps as US inflation surge comes in line with expectations - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

2022/01/13 00:16:00

The dollar fell to a two-month low against a basket of currencies on Wednesday after data, which showed an expected surge in US consumer prices in December, fell short of offering any new impetus for the Federal Reserve's policy normalization efforts.

The dollar fell to a two-month low against a basket of currencies on Wednesday after data, which showed an expected surge in US consumer prices in December, fell short of offering any new impetus for the Federal Reserve’s policy normalization efforts.

The dollar fell to a two-month low against a basket of currencies on Wednesday after data, which showed an expected surge in US consumer prices in December, fell short of offering any new impetus for the Federal Reserve's policy normalization efforts.

@SABCNews Image: Reuters The US Dollar Currency Index, which tracks the greenback against six major currencies, was down 0.Prince Andrew has failed in his bid to get a civil case dismissed, which alleges he sexually assaulted Virginia Giuffre.Competitions WORLD ","category_class":"child-of-news","time_ago":"1 min ago","premium":false,"gallery":false,"excerpt":"Andrew\u0027s lawyers\u00a0had last week urged Kaplan to throw out the suit, citing a settlement that Giuffre signed in 2009 with late disgraced financier Jeffrey Epstein.11 January 2022 - 13:08 Karin Strohecker and Sujata Rao Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US on January 10 2022.

7% at 94.944, after slipping as low as 94.New York Judge Lewis Kaplan said in his ruling that the British royal's motion to dismiss the complaint brought by accuser Virginia Giuffre was"denied in all respects.903, its lowest since November 11.co.The dollar fell to a two-month low against a basket of currencies on Wednesday after data, which showed an expected surge in US consumer prices in December, fell short of offering any new impetus for the Federal Reserve’s policy normalization efforts.We live in a world where facts and fiction get blurred In times of uncertainty you need journalism you can trust.The US Dollar Currency Index, which tracks the greenback against six major currencies, was down 0.2% up to 742.

7% at 94.Journalism strengthens democracy.co.944, after slipping as low as 94.903, its lowest since November 11..US consumer prices surged in December, with the annual increase in inflation the largest in nearly four decades, which could bolster expectations that the Federal Reserve will start raising interest rates as early as March.citizen.The consumer price index increased 0.The Nikkei index fell 0.

5% last month after advancing 0.8% in November, the Labor Department said on Wednesday.jpg","image_src_narrow":"https:\/\/media.In the 12 months through December, the CPI surged 7.0%, the biggest year-on-year increase since June 1982.Economists polled by Reuters had forecast the CPI gaining 0.za\/wp-content\/uploads\/2022\/01\/Julius-Malema-300x200.Hong Kong ticked 0.

4% and shooting up 7.0% on a year-on-year basis.“The US economy appears ready for interest rate lift-off to start in March,” said Joe Manimbo, senior market analyst at Western Union Business Solutions.co.“The dollar’s problem though is that the market already has highly hawkish expectations for Fed policy this year.So, as hot as today’s CPI price was, it merely reinforced what’s already baked in for the dollar and Fed policy,” Manimbo said.Inflation pressures prompted the Fed in December to flag plans to tighten policy faster than expected, possibly even hiking rates in March, though that was before it became clear just how fast the Omicron variant would spread.

Federal Reserve Chair Jerome Powell on Tuesday gave no clear indication that the Fed was in a rush to speed up plans for tightening monetary policy, putting some downward pressure on the greenback which has benefited from US rate-hike expectations in recent weeks.“(It’s) just a case of the market currently getting too ahead of itself with Fed normalization; we will need to see this inflationary impact from Omicron really play out for the Fed to hike four times and embark on quantitative tightening this year I think,” said Simon Harvey, senior FX market analyst at Monex Europe.“While we don’t think today’s CPI release will derail the Fed’s likely liftoff in March, continued reports of narrow inflation pressures will likely lead markets to trim expectations of the normalization cycle across 2022 as a whole,which will undoubtedly result in sustained USD depreciation,”Harvey said.Traders have priced in an about 80% chance of a rate hike in March, according to CME’s Fed Watch tool.The Australian dollar, often considered a liquid proxy for risk appetite, rose 1."In particular, we believe comments regarding earlier runoff and less aggressive rate hikes support our view that the Fed will slow the pace of rate hikes to two per year in 2023.

04% to a one-week high against the US dollar.The weaker greenback and higher oil prices helped lift the Canadian dollar to its highest level in nearly two months.And sterling was 0.56% higher, helped by the weaker dollar and a view that the worst of the Omicron COVID-19 surge may be passing in Britain – helping pave the way for another near-term rise in UK interest rates.Elsewhere, Bitcoin was 2.86.

3% higher at $43,717.08, extending its rebound from the five-month low touched on Monday.This entry was posted on 12 Jan 2022,11:09PM at 11:09 PM and is filed under.

Read more:
SABC News »
Loading news...
Failed to load news.

For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her lisascaparote0 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success There is no greater joy than having financial stability and a life free of debts, that’s why I keep tweeting about williamchurch09 it has been a pleasure collaborating with you...there is no other way I can show my appreciation other than tweeting the good deed you have done.

US judge denies Prince Andrew plea to dismiss US sex case | ChannelA US judge on Wednesday denied Prince Andrew's plea to dismiss a sexual assault lawsuit brought against him, paving the way for the case to proceed, a court filing showed.

US judge denies Prince Andrew plea to dismiss US sex caseAndrew's lawyers had last week urged Kaplan to throw out the suit, citing a settlement that Giuffre signed in 2009 with late disgraced financier Jeffrey Epstein.

World stocks lift ahead of Jerome Powell’s US Senate appearanceMarkets are hoping for clues to the timing of expected policy tightening Investing with williamchurch09 has brought my family so much joy, I've received R25,500 from my little funds i invested and I'm grateful, i advice everyone to invest with 👇👇👇👇 williamchurch09

US judge rejects Prince Andrew’s bid to dismiss sex abuse caseVirginia Giuffre’s lawsuit against the Duke of York stays on track for a trial that could begin later in 2022 For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ There is no greater joy than having financial stability and a life free of debts, that’s why I keep tweeting about williamchurch09 it has been a pleasure collaborating with you...there is no other way I can show my appreciation other than tweeting the good deed you have done.

'Ms Sisulu has insulted us': Zondo takes a swipe at minister for insulting the judiciaryActing chief justice Raymond Zondo has seemingly called on President Cyril Ramaphosa to take action against tourism minister Lindiwe Sisulu for 'insulting the judiciary'. He is not God he can be insulted, we are going silenced by thus zondo If the shoe fits the should wear it And people still dont believe the judiciary is captured This is clear for all of us to see

MIKE DOLAN: ECB may surprise US Fed to win race to pre-Covid-19 settingsThat is despite fewer labour market distortions feeding wages, less exchange rate weakness on import prices and less concern over equity valuations