Dollar Roars on Hot Producer Price Data as Markets Brace for Extended Federal Reserve Tightening
The U.S. Dollar surged following stronger-than-expected April PPI data, signaling persistent inflation at the wholesale level. Markets now anticipate delayed Fed rate cuts amid elevated input costs. EUR/USD dropped below 1.0800 and GBP/USD slipped under 1.2600, reflecting dollar strength. USD/CAD climbed above 1.3600. Traders eye key technical levels as inflation influences monetary policy paths. #Forex #USD #PPI
