Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6954612966151376897
The Washington Post Soaring #Dollar Could Help #Fed Fight #Inflation:
The dollar reached multi-decade highs this week against major currencies including the euro and Japanese yen and is almost certain to head higher still. With consumer prices rising by 9.1 percent over the past year — the fastest pace since 1981 — the Fed has signaled additional rate increases are coming, starting July 27.
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The robust #greenback is evidence that the #Fed’s anti-#inflation #campaign is starting to gain traction, even as #prices overall continue ticking up. But it’s a different story overseas, where #currency weakness in Europe and the United Kingdom — the flip side of the dollar’s strength — is making the fight against inflation even tougher.
“The #dollar, #euro, #yen and #yuan moved in relatively small ranges for a very long time. This is the first time in decades where everybody’s down against the dollar.
The #dollar’s #outperformance — up 13% this year in the #DXY #Index https://lnkd.in/gUJVSZ4X — shows that Federal Reserve Board officials, after misreading #price #signals for most of last year, have belatedly adjusted more quickly than their counterparts in Frankfurt and Tokyo.
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