Dollar steadies amid inflation worries

Federal Reserve Chairman Kevin Warsh emphasized that the central bank may need to continue raising interest rates to combat inflation, despite only limited improvements in data. This has kept the dollar near its highest level in a week, with expectations that interest rates will remain elevated for a long period. Warsh stated that inflation requires further monitoring before it begins to decline, as the labor market and economic activity continue to support the prospects of rate hikes, although no clear stance was given on future increases. Markets mainly focused on U.S. inflation and economic activity data, while the Australian dollar and the Korean won rose, with other currencies remaining stable.

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