XE Market Analysis:Dollar Rallies on Rate Hike Expectations

OVERVIEW US consumer spending rose 0.2% in January, less than expected. Inflation jumped 0.4%, reducing consumer buying power. Growth in US manufacturing accelerated at the fastest pace in over two years last month while new orders also jumped.  The UK manufacturing PMI fell to 54.6 last month as growth slowed from a 2-1/2 year high. The Bank of Canada kept interest rates on hold as expected.

Source: XE news feed
XE Market Analysis:Dollar Rallies on Rate Hike Expectations