Investors weigh rates and economy as FOREX-Dollar rises.

The dollar rose on Thursday as investors assessed the outlook for Fed policy against the possibility that rising interest rates could cause a recession.

Next week brings key central bank decisions from the Fed, ECB, and BoE.

Traders and investors want to know if inflation has peaked, allowing for lower interest-rate hikes in the coming months.

Monthly consumer inflation data also coming next week, one day before the Fed's Dec. 14 policy meeting, and might set longer-term monetary policy expectations.

"U.S. CPI is the only data release that seems to matter for dollar movement right now," RBC currency strategist Adam Cole said.

Dollar was stable against major currencies. The euro was last unchanged at $1.0507, while the pound fell 0.3% to $1.2171.

The yen slipped 0.25 percent to 136.90, giving up part of Wednesday's 0.4% gain.

Since hitting a 15-year high in late October, the 10-year Treasury yield has dropped about 1%. It's unwound half of the rise between August's four-month lows and October's top of 4.34 percent.

Concerns over how a slowing economy may affect global energy demand have sent oil prices below $80 a barrel for the first time since Russia invaded Ukraine in late February.

Brent crude futures have nearly halved since early March's 14-year high of $139.13. Gas prices in the U.S., which set a record $5.016 in June, are presently $3.329, down 0.4% from a year ago.

As energy costs fell, inflation expectations eased. The 10-year breakeven inflation spread, which subtracts an inflation-linked Treasury yield from a nominal 10-year note, is at 2.27 percent, down from 3.0 percent in April.

These two dynamics, along with reduced expectations for the Fed to keep rising interest rates aggressively, have taken 6.2% off the dollar's value this quarter.

According to Refinitiv statistics, this puts the dollar on track for its worst quarterly performance since the third quarter of 2010, when it fell 8.5%.

"The price movement continues to show that market investors are less concerned about inflation threats and more concerned about global economic risks," MUFG currency strategist Lee Hardman wrote in a note.

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