India, Sept. 14 -- The U.S. dollar strengthened against other major currencies in the Asian session on Monday, as the Federal Reserve (Fed) is making aggressive rate-hike bets for Wednesday's decision, following higher U.S. inflation figures.
Hotter-than-expected U.S. inflation also reinforced the case for higher rates. Markets are currently pricing in an 86% probability that the US Fed will raise its policy rate by 25 basis points on Wednesday, with another rate hike expected later this year.
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