The Fed is engaged in a fierce battle with inflation

On Friday (October 28) sub-plate, the rush high fell back, temporarily traded at 110.59, or 0.02%.

Media analysis said the third-quarter announcement comes amid a fierce battle with inflation.

The latest report showed U.S. inflation eased only slightly from a 40-year high, but core inflation hit a new 40-year high.

Given this, the Fed is now expected to raise rates by 75 basis points at each of its two remaining meetings this year.

The Fed has raised interest rates by 300 basis points so far this year and is putting a damper on domestic demand.

Short-term support for the dollar index is at 110.20–110.25, while the important short-term support is at 109.85–109.90.