Danske Research Team highlights that United States (US) Consumer Price Index (CPI) data showed strong core and services inflation, reinforcing concerns about persistent underlying price pressures. Shelter and super-core components rose, while core goods remained flat.
The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, climbs to a five-day high on Tuesday as stronger-than-expected US inflation data bolsters the hawkish Federal Reserve (Fed) outlook.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding gains after modest losses the previous day, trading around 98.10 during Asian hours on Monday.