US data buoys dollar as Fed hike expectations nudged higher
NEW YORK, Aug 26 (Reuters) – The dollar advanced on Wednesday after a batch of U.S. economic data, including a reading on inflation, that slightly pushed up expectations for a rate hike from the Federal Reserve ahead of the Jackson Hole symposium of central bankers this week.
The Commerce Department said the Personal Consumption Expenditures Price Index increased 3.7% in the 12 months through July, unchanged from June and slightly above the 3.6% estimate of economists polled by Reuters.
