Dollar oscillates as market digests U.S. inflation data, ECB - REUTERS
JUNE 10, 2021
By Sinéad Carew
Investors were closely watching for U.S. consumer prices for any signs that higher prices could last longer than expected, potentially calling into question the Federal Reserve’s insistence that current inflation pressures are transitory and monetary stimulus should stay in place for some time yet.
“People are digesting what the next move may be. The data today didn’t give enough lift to commit to one side or the other,” said Trang.
Traders sent longer-term U.S. Treasury yields higher after Thursday’s inflation data steepening a closely watched part of the yield curve.
In crypto markets, bitcoin held gains from its biggest rally since February on Wednesday, when it jumped nearly 12%.
It last traded slightly higher at $37,464, after rebounding from a three-week low of $31,025 hit on Tuesday when signs of institutional investor caution and regulatory attention drove selling.
The best-known crypto currency has struggled since reaching a record $64,895.22 in mid-April.