Dollar skids to three-week low as US inflation data reinforces Fed pause view

The dollar dropped to a three-week low on Tuesday on news of the smallest annual increase in inflation last month in more than two years. | Reuters

John Madziyire, senior portfolio manager at Vanguard, said in the wake of the CPI data, his firm has “high conviction” that the Fed is going to pause on Wednesday.

“But the fact that banks experienced some turmoil or mini-crisis tells us that we’re getting to the point where there is an impact from all these hikes. From the Fed’s perspective, they want to give themselves some time to assess, so that’s why it’s probably a skip, with some data dependency.”. central bank will decide to forgo an 11th straight interest-at 5 percent to 5.25 percent on Wednesday.

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