US Inflation Soars, Dollar Rallies as Markets Temper Rate Cut Hopes
- US inflation jumps, leading to pared back rate cut expectations and a rally in the US dollar
- Gold hits new all-time high over $2,400 before pulling back sharply
- EUR/USD and GBP/USD hit 5-month lows against a strengthening US dollar
- Apple stock turns higher after nearing October lows on news of new Mac Book chip
- Key economic data like US retail sales and UK inflation/jobs reports due next week