RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Economics

US Inflation drives the Dollar to reach a two-decade high

Rate Captain by Rate Captain
May 12, 2022
in Economics
Reading Time: 1 min read
A A
0
US Inflation drives the Dollar to reach a two-decade high
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The dollar hit a two-decade high on Thursday after the U.S inflation moderated lesser than the market expectations, keeping the Federal Reserve on course to tighten policy aggressively.

The US Dollar Index (DXY) which measures the buck against six major peers, added about 0.1% to 104.22, hitting its highest since December 2002.

AlsoRead

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

However, the consumer price index climbed 8.3% on an annual basis in April, easing from 8.5% in March but outstripping the 8.1% estimate of economists.

Keynotes

The US CPI climbed 8.3% on an annual basis in April, easing from the 8.5% in March but outstripping the 8.1% forecasted estimates.

The Federal Reserve has intensified its effort to moderate the inflationary pressures, hiking interest rates for the first time in about two decades this month.

The market is fully priced for at least a half percentage point increase to the policy rate at each of the next two Fed decisions, on June 15 and July 27, according to the CME FedWatch Tool.

According to a senior currency strategist at the Australia Bank, Rodrigo Castril, the stronger-than-expected U.S. inflation print heightened concerns over the need for the Fed to accelerate its policy-tightening path.

The US aggressive stance to increase its interest rates might further weaken the Naira as export costs would most likely increase and debt servicing will become more expensive, thus, causing increased inflationary pressures for the country.

 

Previous Post

After the alleged claim of not being aware of the strike, President Buhari begs ASUU to call off the strike!

Next Post

CBN Scrambles over Nigeria’s Cryptocurrency Problem

Related News

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

by Rate Captain
May 19, 2022
0

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance...

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

by Rate Captain
May 19, 2022
0

Ghana has started the bulk purchase of the yellow metal-Gold, to raise the gold component of its reserves in a...

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

by Rate Captain
May 18, 2022
0

Chicago Federal Reserve Bank President Charles Evans said he supports moving to a shallower rate-hike path by July or September...

CBN say Nigeria would reap the benefits of a rising oil price

CBN say Nigeria would reap the benefits of a rising oil price

by Rate Captain
May 18, 2022
0

A rising oil price is considered to be beneficial to a major oil exporter like Nigeria. However, the Central Bank...

Next Post
CBN Scrambles over Nigeria’s Cryptocurrency Problem

CBN Scrambles over Nigeria’s Cryptocurrency Problem

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

MOMAN Debunks Rumor of Aviation Fuel Selling at N700 per Litre

Oil Marketers, Airlines reach loggerheads over local Aviation Price

May 20, 2022

Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

May 20, 2022

Popular Story

  • Sterling Bank to face sanctions by APCON over provocative Easter Message “Likening Christ resurrection with Agege Bread”

    Sterling Bank to face sanctions by APCON over provocative Easter Message “Likening Christ resurrection with Agege Bread”

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.