Dollar rises ahead of the consumer price index data

In anticipation of the release of data on inflation in the United States, which are under scrutiny, the US currency continues to demonstrate growth. As expected, the data may show that annual CPI inflation stayed above 8% in September, being near the 40-year high that was reached earlier this year.

As minutes of the central bank's September meeting showed on Wednesday, politicians unanimously agree on the need for further monetary tightening to counter inflation, as a result, the US dollar retains its demand.

According to ING analysts, this is a scenario in which the US dollar is supported, and a bearish trend persists in the market of risky assets. In their note, it was also noted that they do not expect the situation to change until the 1st quarter of 2023, calling this date the earliest possible.