India, Nov. 12 -- The U.S. dollar extended its early strength against other major currencies in the Asian session on Thursday, on rising Federal Reserve (Fed) rate-hike expectations, supported by high U.S. consumer inflation data.
Additionally, uncertainty in the Middle East supported the safe-haven dollar, which is thought to be a major factor driving the commodity's decline.
Prospects for additional Fed policy tightening were supported by the October U.S. Consumer Price Index (CPI) report, which was published earlier this week. Markets predicted that the U.S. central bank will raise borrowing prices once more in December, were confirmed by hawkish remarks made by a number of powerful FOMC members.
For comments and feedback contact: edi...