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Dollar Rebounds on Hot PPI Data Ahead of Fed Meeting

Guavy AI Editorial Team
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USD
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The US Dollar rebounded strongly on Friday as the hot Producer Price Index (PPI) rose 5.4% over the year to August, indicating a potential Fed rate hike at next week's meeting.

The US Dollar Index (DXY) reclaimed the 99.00 barrier and surged further, while major currencies such as the Euro and Pound lost ground against it.

The hot PPI reading has strengthened expectations of a rate hike by the Federal Reserve, which is set to meet next week.

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