The US dollar reached a one-week high against various currencies, building on prior gains after strong US consumer price data raised expectations of prolonged higher interest rates by the Federal Reserve.
The U.S. dollar touched a
one-week high against a basket of currencies on Friday,
extending its gains from the previous session when hot U.S.
consumer prices data reinforced expectations that the. -October 13, 2023 at 03:52 pm EDT
- MarketScreener
The market believed that the Fed might not need to hike again because yields were already doing the work of another hike. And that's when the bond market started laughing.