The Paper
On the evening of July 14, the US dollar index, which measures the exchange rate of the US dollar against the basket of currencies, , broke through 109, reaching a high of 109.3, continuing to hit a new high since 2002, with an increase of more than 1% on the day.
From July 13 to 14, the June CPI and PPI data released by the United States exceeded market expectations.
USD June CPI increased by 9.1% year-on-year, higher than market expectations of 8.8%, the highest increase since November 1981, with the previous value of 8.6%. In June, PPI increased by 11.3% year-on-year, exceeding market expectations by 10.7%, and the previous value was 10.8% (revised 10.9%).
price data exceeds expectations, triggering market expectations that the Federal Reserve will be more aggressive in . The market began to expect the Federal Reserve to raise interest rates by 100 basis points at the end of this month, higher than the previous expectation of 75 basis points. The Fed's more aggressive rate hike expectation has also become the main driving force behind the US dollar's strength.
Editor in charge: Zheng Jingxin
