US dollar indexIt was lower on Monday as investors weighed the impact a rate hike might have on the U.S. economy teetering on the brink of recession as the Federal Reserve is due to announce its interest rate decision this week.
In late New York trade, ICE, which tracks the dollar once morest six major currencies US dollar index (DXY) fell 0.23% to 106.48.
According to CME Group’s Fedwatch tool, the market sees a 75% chance of a 3-yard rate hike and a 25% chance of a 4-yard rate hike.
In addition, recent data showed signs of an economic slowdown, but inflation remained stubbornly high, with initial jobless claims rising to the highest level in eight months last week and a decline in regional manufacturing indicators. Investors will next look to Q2 GDP later this week, which is expected to show negative growth and meet the traditional definition of a recession.
The dollar saw its biggest weekly loss in two months last week as stronger equities dented the appeal of the safe-haven dollar, boosted by a rate hike by the European Central BankEURrose to a 2-week high.
EURThe dollar edged up 0.1 percent to $1.0220 on Monday, following Latvia’s central bank governor Martins Kazaks said in an interview that he believed the European Central Bank’s aggressive move to raise interest rates might not be over yet.
In economic data, German business confidence fell more than expected in July and hit its lowest level in more than two years, the Ifo business confidence survey showed.
GBPIt was up 0.37% at $1.2047 once morest the dollar. British industrial output grew at the slowest pace in more than a year in the three months to July, according to a Confederation of British Industry survey, but there were early signs that some challenges from inflation and investment were easing.
dollar once morestJPYIt rose 0.44 percent to $136.65 on Monday.
As of Tuesday (26th) Taiwan time regarding 7:00 Price:
- US dollar indexReported at 106.4731. -0.0043%
- EURExchange rate once morest the US dollar (EUR/USD) at 1 EURAgainst $1.0219. -0.0098%
- GBPExchange rate once morest the US dollar (GBP/USD) at 1 GBPAgainst $1.2050. +0.0249%
- AUDExchange rate once morest the US dollar (AUD/USD) at 1 AUDAgainst 0.6953 yuan. -0.0288%
- dollar once morestCanadian Dollars (USD/CAD) exchange rate at 1.2851 to the US dollar Canadian Dollars。+0.0545%
- dollar once morestJPY (USD/JPY) exchange rate at 136.47 USD JPY。-0.1390%
