US Dollar holds steady in Asia ahead of inflation data
The dollar found support during Tuesday trading sessions as investors paused selling ahead of upcoming US inflation data. Analysts note that stronger than expected figures could reinforce expectations for further interest rate hikes from the Federal Reserve.
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The United States dollar found support and held firm during Tuesday morning trade as investors paused selling ahead of crucial inflation data. The currency rebound follows a recent pullback driven by falling energy costs and a rotation back into riskier asset classes. Markets are pricing an 85% probability of a Federal Reserve rate increase next month following an October jobs report showing employment gains more than double forecasts.
