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“We are  Monitoring inflation very carefully and take it seriously,”  US Treasury Secretary Janet Yellen told the Senate Finance Committee on Wednesday, as reported by Reuters.

“The current burst of inflation reflects the difficulty of reopening an economy that has been shut down,” Yellen added. “We are taking steps to address the bottlenecks afflicting the economy right now.”

Market reaction

These comments don’t seem to be having a significant impact on the USD’s performance against its major rivals. As of writing, the US Dollar Index was up 0.05% on the day at 90.55.