,,The dollar index stabilized above 96 on Tuesday, less than 1% below a recent high as traders balanced concerns over the Omicron variant with expectations of higher US interest rates. Atlanta Federal Reserve president Raphael Bostic was the latest among a growing number of Fed officials stating openness to accelerating the pace of stimulus tapering after he expressed hopes that the momentum of the US economy will carry it through the next wave of the pandemic. He also acknowledged the possibility of at least two rate hikes next year if inflation remains elevated. Meanwhile, Fed chair Jerome Powell told the US congress on Monday that the Omicron variant poses a threat to the economy, citing downside risks to employment and economic activity, and increased uncertainty for inflation.'' Trading Economic
,,The dollar index stabilized above 96 on Tuesday, less than 1% below a recent high as traders balanced concerns over the Omicron variant with expectations of higher US interest rates. Atlanta Federal Reserve president Raphael Bostic was the latest among a growing number of Fed officials stating openness to accelerating the pace of stimulus tapering after he expressed hopes that the momentum of the US economy will carry it through the next wave of the pandemic. He also acknowledged the possibility of at least two rate hikes next year if inflation remains elevated. Meanwhile, Fed chair Jerome Powell told the US congress on Monday that the Omicron variant poses a threat to the economy, citing downside risks to employment and economic activity, and increased uncertainty for inflation.'' Trading Economic