Hawkish Warsh Lifts Dollar as Traders Bet on More Rate Increases
The U.S. dollar recorded its strongest daily performance in three months following hawkish comments from Federal Reserve Chairman Kevin Warsh regarding inflation. The chairman's stern message led investors to increase their expectations for further interest rate hikes by the central bank.
The dollar notched its best day in three months on prospects that the Federal Reserve will continue to raise interest rates after Chairman Kevin Warsh delivered a stern message on inflation.
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