Services PMI Sends Dollar Surging, Reignites Fed Fears

1 year ago
43

The ISM Purchasing Managers Index (PMI) was released at 10 AM Eastern Time yesterday and showed an unexpected surge in US services, which Jerome Powell has said on multiple occasions is a key indicator in the Fed's fight against inflation. This has given credence to the "Higher for Longer" camp and sent the US dollar surging higher.

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