The U.S. dollar goes up against major currencies around the world. The dollar continues to be supported by expectations of further monetary tightening by the U.S. Federal Reserve (Fed) in the context of sustained high inflation, writes Trading Economics. Investors are assessing official data on inflation in Great Britain in September. Does the dollar go up in value?

Consumer prices last month rose at an annual rate of 10.1%, the highest in 40 years, while analysts had expected a 10% rise. British inflation was 9.9 percent in August.

The Bank of England will start selling government bonds from the Central Bank portfolio early next month as part of quantitative tightening to fight record inflation, writes Bloomberg. Initially, the regulator had planned to start selling government bonds on October 6, but then postponed it to October 31 because it had to announce the opposite step – buying up bonds.

The British Central Bank was buying up paper last week after the announcement of a massive budget stimulus by the country’s former finance minister, Quasie Kwarteng, which led to a drop in the bond market due to expectations of a strong increase in the debt burden on the government.

The euro was down 0.17 percent to $0.9841 against the dollar, down from $0.9858 at market close Tuesday.

The dollar went up 0.07% to 149.36 yen from 149.26 yen in the previous session.

Pound has fallen by 0.13% to $1.1305 from $1.1320 following the previous trading session.

The so-called offshore yuan, which is traded in Hong Kong, fell to 7.2366 yuan/$1 from 7.2240 yuan/$1.

The ICE-calculated index adds 0.07%, the broader WSJ Dollar Index adds 0.11%.

Earlier we reported that inflation in the Eurozone accelerated to 9.9% in September and 10.9% in the EU.