The dollar held near a one-year high versus major peers on Wednesday, amid rising expectations the Federal Reserve will announce a tapering of stimulus next month, potentially following with interest rate hikes by mid-2022.
Three Fed policymakers said on Tuesday that the U.S. economy has healed enough to begin to scale back the central bank's asset-purchase programme, including Vice Chair Richard Clarida.The dollar index , which measures the greenback against six rivals, eased slightly to 94.356 from Tuesday, when it touched 94.563 for the first time since late September 2020.
The euro changed hands at $1.1551, well within sight of the previous session's $1.1522, its lowest in nearly 15 months. Traders will focus on consumer price data later on Wednesday for further insight into the timing of higher rates. "We further believe that, following the rather mixed U.S. jobs report for September and the delay rather than the resolution of the U.S. debt ceiling issue, the Fed could ultimately opt for a more gradual start to QE taper."
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