Dollar Posts Biggest One-Day Gain Since September on Hot US Inflation

Cointime reports: The dollar index rose more than 0.6% on Tuesday, its biggest single-day gain since September, after US October inflation came in above expectations for a third straight month and Fed Governor Waller backed a December rate hike. Markets fully price a 25-basis-point December move and have begun pricing a small chance of a 50-basis-point increase, while Dallas Fed President Logan backed at least two more 25-basis-point hikes. The Norwegian krone, Australian dollar and Swedish krona each fell more than 1% against the dollar.