Dollar basks in Fed minutes glow; Aussie sinks

Published by
Reuters UK

By Saikat Chatterjee LONDON (Reuters) – The U.S. dollar resumed its climb towards a recent 14-month high on Wednesday as minutes of the latest Federal Reserve policy meeting fuelled expectations of a U.S. rate increase as early as March. The Fed’s December meeting minutes showed officials had discussed shrinking the U.S. central bank’s overall asset holdings as well as raising interest rates sooner than expected to fight inflation. Money markets are now pricing nearly an 80% probability of a U.S. interest rate rise by March and more than 80 basis points of cumulative rate increases in 2022, a …

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