Dollar Soars as Hawkish Warsh Boosts Rate Hike Chances
Friday saw the dollar index DXY rally to a two-week high, closing up by 0.61%.
This jump was largely attributed to hawkish comments from Fed Chair Warsh, who warned that inflation is not slowing meaningfully and vowed that policymakers would return inflation to their 2% target.
The chance of a Fed rate hike at next month's FOMC meeting rose to 57%, up from 36% before Warsh's speech.