0857 ET - The dollar rises to a one-week high against a basket of currencies after inflation data showed annual CPI held steady at 3.4% in August, in line with expectations. Following last week's strong U.S. jobs data, the numbers could increase prospects of the Federal Reserve hiking interest rates, possibly as soon as next week. U.S. money markets price an 82.5% probability of a hike next week, versus around 68% beforehand, LSEG data show. "Policymakers may have been willing to look through an oil-driven inflation shock if there were clearer signs of economic weakness, but robust job creation and persistent wage pressures leave little room for complacency," says Wealth Club's Isaac Stell in a note. The DXY dollar index rises to a high of 99.368.
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