10:38 - 27.08.2026

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August 27, Fineko/abc.az. The US dollar recorded its largest gain in four weeks as persistent inflation data reinforced expectations of further Federal Reserve rate hikes. The Bloomberg Dollar Spot Index rose by up to 0.3%, tracking higher Treasury yields.

The move followed July data showing the US Personal Consumption Expenditures (PCE) price index running at an annual rate of 3.7%, nearly double the Fed's 2% target. Consequently, investors increased the probability of a September rate hike to around 40%. The dollar advanced against almost all G10 currencies. Investors now await Fed Chair Kevin Warsh's upcoming speech at the Jackson Hole symposium for further policy guidance.