U.S. Dollar Appreciates On Fed Rate Hike Odds
12 Agosto 2022 - 02:29AM
RTTF2
The U.S. dollar was higher against its major counterparts in the
European session on Friday, as investors hope that the Federal
Reserve will continue raising rates in the coming months to combat
inflation.
San Francisco Fed President Mary Daly said on Thursday that a 50
basis-point hike would be appropriate in September, although she is
open to a 75 basis-point move if the data evolve differently.
St. Louis Fed President James Bullard, Chicago Fed President
Charles Evans and Minneapolis Fed President Neel Kashkari also
indicated that the central bank is set to tighten its monetary
policy further despite signs that inflation may have peaked.
The Fed has lifted its policy rate by 225 basis points since
March and another 50 basis-point hike is on the cards at the
September meeting.
Market participants await U.S. import prices for July and
University of Michigan's preliminary consumer sentiment for August
due later today for more direction.
The greenback edged up to 1.0287 against the euro and 0.9433
against the franc, off its early lows of 1.0327 and 0.9405,
respectively. Should the dollar strengthens further, it is likely
to test resistance around 1.00 against the euro and 0.97 against
the franc.
The greenback touched 2-day highs of 1.2120 against the pound
and 133.65 against the yen, up from its prior lows of 1.2215 and
132.88, respectively. The greenback is likely to face resistance
around 1.20 against the pound and 135.00 against the yen.
Against the loonie and the aussie, the greenback rose to 1.2779
and 0.7085, respectively. The greenback is seen finding resistance
around 1.29 against the loonie and 0.68 against the aussie.
The greenback rebounded to 0.6424 against the kiwi, after
falling to more than a 2-month low of 0.6469 in the previous
session. Next immediate resistance for the currency is seen around
the 0.62 level.
U.S. import and export prices for July and University of
Michigan's preliminary consumer sentiment for August are scheduled
for release in the New York session.
US Dollar vs Yen (FX:USDJPY)
Gráfica de Divisa
De Nov 2023 a Dic 2023
US Dollar vs Yen (FX:USDJPY)
Gráfica de Divisa
De Dic 2022 a Dic 2023
