Dollar Sellers Step Aside as Traders Brace for Hot October CPI Print

The dollar steadied in Asian trading as investors awaited October US consumer price data expected to show headline inflation at 3.9% and core at 2.8%. A stronger print would reinforce market pricing of an 85% chance of a Federal Reserve rate increase next month, following a blowout October payrolls report. The euro traded at $1.1220, sterling at $1.3441, the Australian dollar at $0.6921 and the yen at 157.97 per dollar. Analysts flagged that a hotter CPI would lift the greenback, while concern over tighter AI regulation after a possible Democratic sweep could cap US growth and the dollar's rally.