Dollar on track to snap four-week rally as AI debt worries weigh
The dollar slipped on AI debt worries and headed for its first weekly loss in five, while US import prices rose 1.1% and eurozone CPI was confirmed at 3.8%.
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The dollar slipped on AI debt worries and headed for its first weekly loss in five, while US import prices rose 1.1% and eurozone CPI was confirmed at 3.8%.
The dollar slipped as US yields kept falling despite hot PPI, the euro had its best day in two months and New Zealand's factory PMI jumped to 56.5.
The dollar eased from 18-month highs even as US PPI hit 6.3% against 5.3% expected and retail sales beat, while sterling rose on stronger UK growth data.
The dollar held near an 18-month high after hot US CPI, as Fed's Goolsbee called the data discouraging and the Beige Book showed price pressures broadening.
The dollar rose and US yields jumped after September CPI hit 3.7% against 3.6% expected, with core at 2.6%, reviving Fed rate hike fears across FX markets.
The dollar fell against every major as Fed's Williams saw no 2027 hike, while the yen lagged on BoJ reports and traders awaited US CPI.
Ether rose 5.31% to $2,455 and altcoins outpaced bitcoin at $81,882, as Fear & Greed climbed to 63 and MSCI adopted rules that could oust Strategy.
Bitcoin rebounded to $82,135 after its first dip below $80,000 in a month, while Fear & Greed slid to a neutral 53 and Russia set a P2P trading ban.
Bitcoin briefly fell below $80,000 for the first time in a month as a Kospi plunge and Fed hike bets drove nearly $1 billion in crypto liquidations.
Bitcoin fell 1.87% to $81,562 as the hot US CPI drag lingered, while Sberbank and Standard Chartered moved to offer bitcoin trading to clients.
Bitcoin dropped 2.02% to $81,886 after a hotter-than-expected US September CPI report, while total crypto market value fell 4.25% to $2.773 trillion.
Bitcoin traded at $83,325, up 2.3% in 24 hours, as Strive raised more cash for bitcoin, Ledger paused Asian sales and Fear & Greed rose to 62.