- <a href=”https://tmsnrt.rs/2RBWI5E”>Graphic: World FX rates</a>
LONDON/NEW YORK, Nov 12 (Reuters) – The U.S. dollar lost some ground on Friday as high inflation wreaked havoc on consumer sentiment, but the greenback was on track for its third straight weekly gain after a surprisingly strong U.S. inflation print shocked markets on Wednesday, prompting investors to advance their bets for a U.S rate hike.
The dollar turned red on Friday morning after the University of Michigan survey showed a plunge in U.S. consumer sentiment in early November to its lowest level in a decade as surging inflation cut into households’ living standards, with few believing policymakers are taking sufficient steps to mitigate the issue. read more
With short-dated U.S. Treasury yields edging higher — five-year bond yields rose to a…