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المشهد العربي
Dollar hits two-week peak on inflation concerns
The US dollar recorded a strong rise during Thursday's trading session, marking its largest daily gain in two weeks, due to indications of rising inflationary pressures and soaring oil prices. This has increased expectations that the Federal Reserve will tighten monetary policy. The dollar index jumped to 98.9 points, up by 0.10%, while a Bloomberg report showed a 0.4% increase, the largest since August. Additionally, the prospects of the Federal Reserve raising interest rates at the upcoming meeting have increased to around 70%, driven by accelerating producer price inflation in August due to higher energy costs, particularly diesel, reflecting increasing cost pressures on the US economy.
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