US dollar rebounds after ECB 0.25% hike to fight inflation
Business
The US dollar bounced back on Thursday, shaking off earlier losses from rising oil prices and bond yields.
The European Central Bank hiked interest rates by 0.25%, making the euro drop to $1.1612.
This move was meant to fight inflation linked by some to the Iran war, but it's got people worried about how more hikes could affect Europe's economy.
Dollar index up 0.28% after PPI
The dollar index climbed 0.28%, breaking a three-day losing streak, helped by solid US producer price data and talk of a possible Fed rate hike next week.
Oil prices spiked too, boosting the dollar even more.
Meanwhile, other currencies reacted differently: the yen slipped after recent gains, Canada's dollar and Britain's pound both edged down, while China's yuan stayed steady against the dollar.