Trading & Financial News
No Result
View All Result
Saturday, June 28, 2025
  • Login
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
Subscribe
Trading & Financial News
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
No Result
View All Result
Trading & Financial News
No Result
View All Result
Home Forex News

Dollar hits 11-week high as Fed rate cut bets recede By Reuters

by Tradinghow
February 5, 2024
in Forex News
A A
0
Dollar hits 11-week high as Fed rate cut bets recede By Reuters
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB


© Reuters.

By Harry Robertson and Rae Wee

LONDON/SINGAPORE (Reuters) -The dollar rose to its highest in almost three months against other major currencies on Monday as traders clawed back bets for aggressive rate cuts by the Federal Reserve this year.

The Fed repricing has followed Friday’s blockbuster U.S. jobs report that far exceeded market expectations and sent U.S. bond yields soaring, boosting the country’s currency.

Treasury yields rose further on Monday after Fed Chair Jerome Powell said over the weekend that the central bank could “give it some time” before cutting interest rates.

The , which tracks the greenback against six other major currencies, rose to 104.3, its highest since Nov. 17, It was last up 0.21% at 104.27.

The two-year Treasury yield was last up 6 basis points at 4.433%, after jumping 18 bps on Friday.

The euro fell to its lowest since Dec. 11 at $1.0747 and was last down 0.36% at $1.0752.

In an interview with the CBS news show “60 Minutes” that aired on Sunday night and was conducted on Thursday, Powell said the Fed could be patient in deciding when to cut its benchmark interest rate.

“The prudent thing to do is… to just give it some time and see that the data confirm that inflation is moving down to 2% in a sustainable way,” Powell said.

Charu Chanana, head of FX strategy at Saxo Bank, said: “Reasons for a bullish USD trend continue to multiply… and now markets having to seriously reassess Powell’s pushback to March rate cut pricing.”

Japan’s yen fell to its lowest since early December in early Asia trade at 148.82 per dollar, before steadying to stand at 148.36.

Jane Foley, head of FX strategy at Rabobank, said a weak euro zone economy was also likely weighing on the euro.

“We have stagnation in Germany,” she said. “I think we’re going into a period when it’s going to be really hard for the euro to make significant gains.”

Data on Monday showed that German exports fell more than expected in December due to weak global demand.

RATE CUT EXPECTATIONS

Fed funds futures now show roughly 120 basis points (bps) worth of easing priced in for the Fed this year, down from about 150 bps at the end of last year.

A March cut is now seen as a roughly 16% possibility, down sharply from around 50% a week ago.

Sterling was down 0.46% to $1.2576, its lowest since Dec. 13, as the dollar rallied.

The pound showed little reaction to revised data that indicated Britain’s unemployment rate was lower than expected at the end of the year.

Elsewhere, China’s central bank continued to use the official guidance fix to keep its currency stable, after setting the midpoint rate for the yuan firmer than Reuters’ estimate.

That supported the slightly, though it still struggled against the stronger dollar to finish the domestic session at 7.1982, the weakest close since Nov. 17.

The main event on the economic calendar is the ISM non-manufacturing survey later in the day, which will give a sense of the health of the U.S. economy in January.



Source link

  • Trending
  • Comments
  • Latest
The Evolving International Cannabis Landscape

The Evolving International Cannabis Landscape

March 20, 2024
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

July 29, 2023
Uniswap Launches Permissionless Bridging Across 9 Networks

Uniswap Launches Permissionless Bridging Across 9 Networks

October 24, 2024
China tech groups lead multibillion-dollar campaign to help exporters sell at home

China tech groups lead multibillion-dollar campaign to help exporters sell at home

April 20, 2025
High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

0
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

0
Learn how to trade. For beginners

Learn how to trade. For beginners

0
Trading for beginners

Trading for beginners

0
Nigerian billionaire, Dangote, sets ambitious goal with .5 billion fertilizer plant

Nigerian billionaire, Dangote, sets ambitious goal with $2.5 billion fertilizer plant

June 27, 2025
Crizac fixes IPO price band at ₹233-245

Crizac fixes IPO price band at ₹233-245

June 27, 2025
Analyzing the Russell Indexes Last Annual Reconstitution

Analyzing the Russell Indexes Last Annual Reconstitution

June 27, 2025
China’s ‘Summer Davos’ offers rare respite from trade war

China’s ‘Summer Davos’ offers rare respite from trade war

June 27, 2025

Recent News

Nigerian billionaire, Dangote, sets ambitious goal with .5 billion fertilizer plant

Nigerian billionaire, Dangote, sets ambitious goal with $2.5 billion fertilizer plant

June 27, 2025
Crizac fixes IPO price band at ₹233-245

Crizac fixes IPO price band at ₹233-245

June 27, 2025

Categories

  • Business
  • Crypto
  • Economy
  • Forex News
  • Investing
  • Markets
  • More
  • Stock Trading
  • Trading for beginners

Site Navigation

  • Home
  • Contact Us
  • Stock Trading
  • Markets
  • Investing
  • Other Links
  • Privacy & Policy
Trading & Financial News

We bring you the fastest breaking news on Trading, forex, and finance submitted from credible and reliable news sources around the world.

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

No Result
View All Result
  • Contact Us
  • Home
  • Economy
  • Crypto
  • Investing
  • Markets
  • Forex News
  • Stock Trading

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In