Dollar jumps after U.S. retail data fuels rate hike bets

Published by
Reuters

By Tom Wilson LONDON (Reuters) – The dollar jumped on Wednesday as strong U.S. retail sales data fuelled bets on earlier Federal Reserve interest rate hikes, with the pound also climbing after inflation in Britain hit its highest for ten years. The dollar rose to its highest against the Japanese yen since March 2017 after U.S. data on Tuesday showed stronger-than-expected retail sales last month. With inflation running high, the figures boosted expectations of a rate hike as early as mid-2022. Investors also think the data could encourage the Fed to accelerate the tapering of its asset purchas…

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