The dollar rose on Thursday after data showed U.S. import prices increased 0.9% last month, a jump that raised market fears that the Federal Reserve s fight to tame inflation is not done and could delay plans for policymakers to cut interest rates.
Asian shares fell on Thursday and the dollar was near a three-week high as traders dialled back bets of steep and early rate cuts this year, with the minutes of the Federal Reserve s last meeting failing to provide clues to when U.S. cuts might start.
The dollar edged higher on Thursday as investors reassessed their expectations of the scale of rate cuts by the Federal Reserve this year, with an air of caution hanging over markets after an impressive risk rally last month.
International Business News: The dollar rebounded from a two and a half low after the Federal Reserve's minutes hinted that interest rates would remain restrictive. The Fed stated
GBP/USD Forecast: Dollar Rebounds, Investors Await BOE forextv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forextv.com Daily Mail and Mail on Sunday newspapers.