Dollar Rebounds with CPI Data in Line, Bankers Back Powell

FOREX - SINGAPORE. The U.S. dollar recovered ground to near a one-month high in early Asian trade on Wednesday after U.S. CPI data that was broadly in line with estimates, firming up expectations that the Federal Reserve will remain on hold later this month despite unprecedented pressure from the White House to lower interest rates. 

The U.S. dollar index, which measures the greenback's strength against a basket of six currencies, was last up 0.3% at 99.18, retracing losses from Monday after U.S. President Donald Trump threatened Fed Chair Jerome Powell with a criminal indictment.