Dollar index has biggest daily pct gain since 2020 after unexpected rise US consumer prices - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The dollar index, which tracks the greenback against its peers, was up 1.5% at 109.85 in its biggest one-day percentage gain since March 2020.The index turned positive after the data release.The euro was last down 1.5% versus the greenback at $0.9973, after hitting a nearly one-month high of $1.0198 in the previous session.According to the Labour Department report, US consumer prices unexpectedly rose in August and underlying inflation picked up amid rising costs for rents and healthcare.

“This is going to put the idea of transitory inflation to bed for now and anchor U.S. yields and the dollar substantially higher. The key thing here is that we’re now looking at near-certain odds on a 75-basis-point move next week.”

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