On October 20-22, by the banks of Shanghai's Huangpu River, the 2026 Sustainable Global Leaders Summit returns once again. Nobel and Turing Award winners will take the stage to discuss the future and trends of technology, and the internet-famous professor who "rescues" people from anxiety and the era of involution — Macfarlane — will hold a live dialogue with Xiang Biao!
Limited seats available, first come first served. Let us journey together toward sustainability! [Click to register] The dollar rose to its highest level since May 2025, strengthening against all G10 currencies, after higher-than-expected US inflation data prompted traders to increase their bets on Federal Reserve rate hikes. US Treasury yields climbed.
The dollar spot index rose as much as 0.6%, reaching its highest level since May 16, 2025. The benchmark 10-year Treasury yield advanced. Consumer prices rose at the fastest pace in five months, intensifying market concerns that the Federal Reserve will keep interest rates higher for longer amid elevated oil prices.
The team at TD Securities, including Oscar Munoz, Eli Nir, and Gennadiy Goldberg, said: "Today's report raises the possibility of an October rate hike, but we still believe the Fed will hold steady and opt for December, because the market has already done part of the Fed's work for it."
Cable fell 0.8% to 1.3146, its lowest level since November 2025. Bank of England Chief Economist Huw Pill questioned market bets on four rate hikes before next summer. UK August GDP data is due Thursday.
EUR/USD fell 0.7% to 1.1119, touching its lowest level since May 2025. Valentin Marinov, head of G10 FX research and strategy at Credit Agricole, said: "Given persistent market concerns about Europe's political and fiscal outlook, the euro may continue to bear the brunt of dollar strength in the near term." ECB President Lagarde said high inflation in the eurozone caused by elevated energy prices has not yet affected the overall economy.
USD/CAD rose 0.5%, hitting a new high since April 2025. USD/JPY rose 0.4% to 158.92. AUD/USD fell 0.4% to 0.6958.