The dollar traded higher against its rivals Thursday as data showing inflation continue to meet the Federal Reserve's target and consumer spending remained firm, strengthening the central bank's case to continue with gradual rate hikes.
Some analysts, however, said it was still too early for the Federal Reserve to declare victory on the inflation front as core inflation, which excludes more volatile food and energy prices, reached 2% for just the third time this year in July, and annual comparisons are expected to get tougher.
Some analysts, however, said it was still too early for the Federal Reserve to declare victory on the inflation front as core inflation, which excludes more volatile food and energy prices, reached 2% for just the third time this year in July, and annual comparisons are expected to get tougher.