Dollar steadies as Fed cautions on inflation
A slightly cooler-than-anticipated inflation data on Thursday put the greenback in a tailspin, with the dollar index slipping 4% for the week, its worst week in more than two and half years.
Global equities, meanwhile, soared as investors poured into risky assets on hopes that peaking inflation means less aggressive rate hikes from the Fed.said on Sunday that the inflation print last week was "just one data point" that would have to be followed, and h other similar readings would be needed to show convincingly that inflation was slowing.
The U.S two-year yield , which reflects rate move expectations, edged up to 4.41%, after diving as low as 4.29% on Friday, while the U.S. 10-year yield was up 7 basis points at 3.899%. The Japanese yen weakened 0.60% versus the greenback at 139.63 per dollar, while the euro was down 0.47% to $1.0303.
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