Dollar Surges Past $920 on US Inflation Data, Jackson Hole Hopes
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The dollar has risen to levels above $920, bolstered by US inflation data showing a 0.2% monthly increase in the PCE price index. This development has revived bets on a potential Federal Reserve rate hike before the year ends, ahead of the Jackson Hole Economic Symposium. Market participants are eagerly awaiting the Fed's next move, with money markets already pricing in a rate hike.
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