The U.S. dollar gained against its major rivals on Thursday as rising concerns about inflation and aggressive monetary tightening by the Federal Reserve boosted the currency's safe-haven appeal.
Rising oil prices fueled concerns about an acceleration in inflation. Oil prices surged after the OPEC+ announced that the group would cut crude output by 2 million barrels per day from November. Recent data showing a drop in U.S. crude inventories contributed as well to the surge in oil prices.
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