Dollar drops from 18-month peak
The dollar retreated from its highest level in 18 months after data showed inflation in the United States rose more than expected. Consumer prices increased by 3.7% year-on-year in September, raising market concerns that the Federal Reserve may need to hike interest rates again. However, statements from central bank officials indicated they are waiting for clearer signals before making new decisions, leading to a decrease in the probability of rate hikes to about 30%. Additionally, the currency markets experienced declines in the dollar's exchange rate against the Japanese yen and the Australian dollar, following data that diminished expectations of monetary policy tightening, amid caution over ongoing interventions in the foreign exchange market.
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