It has held gains but has been unable to beat resistance around $1.1483 even as European bond yields have leapt and last bought $1.1441.
Futures markets are pricing an almost 1-in-3 chance of a 50 basis point rate rise and the prospect of aggressive hikes has been supporting the dollar. “The CPI will be critical on how the narrative develops until the March ,” he said, though adding that barring a big surprise, March will probably bring only a 25 basis points hike.
Overnight Bitcoin and the Australian dollar posted gains as equity markets cautiously rallied in Europe.
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