Dollar Edges Higher Key Inflation – The dollar pushed higher in early European trade Friday, on course for its best week since June, as traders position for a tighter U.S. monetary policy in the near future.

At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher at 94.315, near its highest level since September 2020 having gained over 1% so far this week, the largest weekly rise since late June. EURJPY Bounces Off a Key Resistance

Foreign exchange traders have started positioning for the Federal Reserve to begin tapering its asset purchases before the year end, and for interest rate hikes starting in the second half of 2022. Dollar Edges Higher on Inflation

Fed chief Jerome Powell stated Wednesday that resolving “tension” between high inflation and still-elevated unemployment is the most urgent issue facing the central bank right now.

Telegram FX Signals

U.S. second-quarter growth was revised slightly higher on Thursday, and the focus Friday will be on the release of the core personal consumption expenditures price index, the inflation measure the Federal Reserve uses to set policy.

This is expected to rise 0.2% in August and 3.6% year over year, unchanged on an annual basis from July, which was the highest level since May 1991.

Elsewhere, USD/CZK traded flat at 21.8660, after the crown posted sharp gains on Thursday on the back of the Czech National Bank hiking interest rates by 75 basis points, its biggest interest rate hike since 1997, after a spike of inflation.

The increase was larger than the already big 50-basis point move that markets had priced in. It lifted the bank’s two-week repo rate to 1.50%.

Dollar Edges Higher Key Inflation

The US Dollar edges down after inflation data

Dollar Edges Higher Key Inflation

Subscribe to our Signals and start receiving Forex Day Trading Signals from the very next trade! Forex Signals Learning Guides below with guide you with every trade you make!

Here at FxPremiere Group we keep you updated with the Compare Forex Brokers charting system, as well as sending you Direct Forex Signals by our Telegram Services globally daily. US Dollar Index edges higher

FX Signals

The most traded pairs of currencies in the world are called the Majors.EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, NZD/USD and USD/CAD, Gold, Oil and many many more… Forex Trading comes with it high risk. We help by referring only the very best forex brokers available in the marketplace. Your in safe hands with our partners. Fx Signals News 06 03 2021 Dollar RisesForex Signals Telegram SignalsWith our free forex learning guides you will be able to educate yourselves with the most up to date forex basics required in order to enter the Capital Markets. Learning centre is now available for all to read. With blog posts written monthly on the most common searched terms.

Dollar Edges Higher Key Inflation