Today’s Notable Sentiment Shifts
USD – The dollar dipped on Wednesday as risk sentiment improved and as investors focused on rising commodity prices and when global central banks are likely to begin hiking interest rates to fend off persistently high inflation.
GBP – Sterling traded near a one-month high on Wednesday after traders said a dip in September inflation was unlikely to stop the Bank of England from raising interest rates soon.
CAD – The Canadian dollar edged higher as CPI data showed an 18-year high, supporting the market’s “hawkish outlook” for the BoC and offsetting a drop in oil prices.
GBP – Sterling traded near a one-month high on Wednesday after traders said a dip in September inflation was unlikely to stop the Bank of England from raising interest rates soon.
CAD – The Canadian dollar edged higher as CPI data showed an 18-year high, supporting the market’s “hawkish outlook” for the BoC and offsetting a drop in oil prices.