Business · Markets · 8 hrs ago
Dollar Holds Steady as Traders Await US Inflation Data
The dollar held steady in Asian trading as investors waited for US inflation figures due later.
A strong October jobs report has led markets to price in an 85% chance of a Federal Reserve rate rise next month.
Economists expect October inflation to reach 3.9% overall and 2.8% excluding food and energy, compared with a year earlier.
Higher-than-expected inflation could lift the dollar by adding to expectations of rate increases.
Those expectations have grown after the war on Iran drove up energy prices and raised concerns about inflation, reversing earlier bets on US rate cuts.
The inflation figures are the next key test for those bets, while the Australian and New Zealand dollars and the euro had recently gained against the US currency.
The dollar held steady in Tuesday’s Asian session as traders waited for US inflation data.
A hotter-than-expected reading could strengthen bets on Federal Reserve rate increases and lift the dollar.
Economists polled by Reuters expected October headline inflation of 3.9% and core inflation of 2.8% year on year.
Markets were pricing an 85% chance of a US rate increase next month after a stronger-than-expected jobs report.
The dollar had fallen as lower oil prices and rising stock markets encouraged investors to move into riskier assets.
- Who
- Currency traders and investors. They were watching the US dollar and awaiting inflation data.
- What
- The dollar held steady after recent fluctuations as traders awaited US inflation figures.
- When
- Tuesday’s Asian session. The article was published on November 10, 2026.
- Where
- The currency market, with the dollar steady in Asian trading.
- Why
- Traders awaited US inflation data for clues about interest rates. A hotter reading could increase rate-hike expectations and support the dollar.
This story does not have two clearly opposing sides.
A US jobs report showed hiring was more than twice forecasts, and the dollar rose as interest-rate expectations increased.
Lower oil prices and rising stocks knocked the dollar lower as investors moved into riskier assets.
The dollar held firm in the Asian session as traders waited for US inflation data.
- Publication date
- November 10, 2026
- October headline inflation forecast
- 3.9% year on year
- October core inflation forecast
- 2.8% year on year
- Rate-increase probability
- Markets priced an 85% chance of a Federal Reserve rate increase next month
- Dollar index
- It had gained this year, according to the article
What people are saying
You can only put a little bit more (in the price) in December, but the price for meetings into the future could go higher
This could be a factor that slows US growth in 2027 and helps put a top in for the dollar