Trending
US Dollar
Source: Newsmaker.id
The US dollar strengthened against several major currencies in trading on Tuesday (November 10, 2026), following US consumer inflation data that came in higher than anticipated, reinforcing expectations for a Federal Reserve interest rate hike in December. The US Dollar Index (DXY) rose 0.51% to 102.20, while the October Consumer Price Index (CPI) report showed a 0.4% monthly increase—surpassing the market forecast of 0.3%. This data pushed the yield on two-year US Treasury notes up by approximately 19 basis points to 4.738%, reflecting growing expectations for tighter monetary policy.
The dollar’s gains were further bolstered by comments from Federal Reserve Governor Christopher Waller, who signaled the need for an interest rate hike next month to rein in inflation. According to the CME FedWatch Tool, the probability of a Federal Reserve rate hike in December has risen to 89%. These developments weighed on several major currencies: the EUR/USD pair fell 0.48% to 1.1170, while the USD/JPY pair climbed 0.47% to 158.66, and the USD/CHF pair strengthened 0.89% to 0.8251. This shift indicates that investors are refocusing on inflation risks and the outlook for Fed policy, having previously been more focused on oil price movements and geopolitical developments.
Currencies sensitive to risk sentiment also faced pressure. The Australian dollar weakened by 1% to US$0.6855, while the New Zealand dollar fell 0.59% to US$0.5597. Steve Englander, Head of G10 FX Research at Standard Chartered, believes that the combination of hotter-than-expected inflation and hawkish remarks from Federal Reserve officials has shifted the market's focus from oil dynamics toward broader inflation risks. Investors are now closely monitoring price indicators and statements from central bank officials to determine whether the dollar’s strengthening can persist ahead of the December monetary policy meeting.
Source: Newsmaker.id