Dollar climbs again ahead of Fed and ECB meetings By Reuters

Dollar climbs again ahead of Fed and ECB meetings By Reuters
Dollar climbs again ahead of Fed and ECB meetings© Reuters. FILE PHOTO: A money changer counts U.S. dollar banknotes at a currency exchange office in Ankara, Turkey November 11, 2021. REUTERS/Cagla Gurdogan/File Photo

By David Henry

NEW YORK (Reuters) – The U.S. dollar rose again on Tuesday after rebounding from a dip that nearly wiped out its gains from the day before as markets jostled with the different paths major central banks are choosing between fighting inflation or the economic drag of the pandemic.

The measuring the currency against major peers was up 0.2% at 96.5520 in afternoon trading in New York after having earlier given up much of its Monday gain of 0.3%.

The rebound came largely at the euro’s expense as markets digested another report of unexpectedly high U.S. inflation that could push American interest rates much higher and sooner than in Europe.



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