🇺🇸LATEST: The US dollar just hit a two-month high as inflation fears fuel bets on another Fed rate hike.
DXY reached 100.89, its highest since July 30 after the Fed warns inflation could stay above their 2% target.
Last week, the Fed raised rates to 3.75%–4.00% for the first time since 2023, with projections pointed to another hike this year.
CME FedWatch put the chance of an October hike at 53%.
#DXY #usd #FedRates
DXY reached 100.89, its highest since July 30 after the Fed warns inflation could stay above their 2% target.
Last week, the Fed raised rates to 3.75%–4.00% for the first time since 2023, with projections pointed to another hike this year.
CME FedWatch put the chance of an October hike at 53%.
#DXY #usd #FedRates
