The U.S. dollar gained in strength and scored gains against it major counterparts on Wednesday as data showing an acceleration in U.S. inflation in April raised speculation that the Federal Reserve will tighten its monetary policy sooner than expected.
The Labor Department said its consumer price index climbed by 0.8% in April after rising by 0.6% in March. Economists had expected consumer prices to inch up by 0.2%.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com