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Dollar Climbs Ahead of Inflation Data; Cryptos Crumble

Started by Epoch-Times-Bot, Nov 10, 2022, 08:15 AM

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Epoch-Times-Bot

Nov 10, 2022, 08:15 AM
Dollar Climbs Ahead of Inflation Data; Cryptos Crumble

SINGAPORE—The dollar inched higher ahead of U.S. inflation data due later on Thursday, while cryptocurrencies remained under pressure after crypto exchange Binance scrapped plans to rescue its ailing rival FTX.
The greenback surged on Wednesday against its peers but later pared some of those gains, with investors also digesting the U.S. midterm election results.
The dollar index, which tracks the currency against major peers, was last up 0.11 percent to 110.48.
All eyes were on U.S. inflation figures due later on Thursday, which could have a big impact on the scale of the U.S. Federal Reserve’s future interest rate hikes. Economists polled by Reuters expect the headline consumer price index to show an 8 percent year-on-year rise in October, down from 8.2 percent in September....

Source: Dollar Climbs Ahead of Inflation Data; Cryptos Crumble

xenzol

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Aug 14, 2024, 12:36 AM
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