💨 Abstract

The U.S. dollar strengthened against the Japanese yen on Wednesday, as U.S. consumer prices increased more than expected in January, pushing the annual rate of inflation to 3.0%. This indicates that the Federal Reserve is less likely to cut interest rates, as they aim to curb price pressures. The euro also gained, boosted by comments from the European Central Bank's president.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖