💨 Abstract

The U.S. dollar rose on Wednesday as unexpectedly high consumer price increases in January increased the likelihood of the Federal Reserve maintaining higher interest rates to combat inflation. The consumer price index and core index rose by 0.5% and 0.4% respectively, with annual increases of 3.0% and 3.3%, surpassing economists' predictions.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖