12.11. Dollar at 16-month high, oil falls

News for today, November 12:

On Friday, the U.S. dollar is about to conclude the best week in five months amid expectations of a Federal Reserve rate hike, which are driven by the data released earlier this week that showed the fastest inflation in the U.S. in three decades.

The dollar index, which measures the currency against six peers, hit a new 16-month high of 95.266. The expected gain this week is 1.05%, the highest since June. By contrast, the euro fell to a 16-month low of $ 1.1436 while the pound fell to $ 1.3354, its lowest level this year.

Oil prices fell on Friday, reversing gains from the previous session as the dollar continued to rally on bets that the U.S. central bank would put forward plans to raise rates to contain inflation.

The price of Brent crude is $ 82.25 per barrel, WTI — $ 80.79. EUR/USD is at 1.1450, GBP/USD — 1.3406, gold is at $ 1,853.22 per ounce.­­­­