Forex
Dollar Soars on Hot US Inflation Data, EUR/USD Slips
The US Dollar rebounded strongly on Friday, September 11, as the hot Producer Price Index (PPI) rose 5.4% over the year to August.
This has hardened expectations for a Fed rate hike at next week's meeting, and has boosted the US Dollar Index (DXY), which reclaimed the 99.00 barrier.
The EUR/USD pair slipped and settled around the 1.1600 neighborhood despite the European Central Bank's widely expected 25-basis-point rate hike to 2.50%, with President Christine Lagarde calling it a 'no-brainer'.