dollar indexIt recovered slightly on Tuesday (10th), but continued to hover near a seven-month low, while traders are awaiting U.S. inflation data due later this week to assess expectations for a rate hike by the Federal Reserve .
ICE, which tracks the dollar against six major currencies, in late U.S. trade dollar index (DXY) rose 0.27 percent to 103.28.
Fed Chairman Jerome Powell attended the Riksbank event and said that in order to stabilize inflation, unpopular measures may be needed in the short term, while also emphasizing the independence of the central bank. He did not address the issue of raising interest rates at the event.
Win Thin, head of global currency strategy at Brown Brothers Harriman, said the dollar could remain under pressure until the Fed gives a more hawkish statement, but he thinks the dollar is too weak for now.
The dollar has been falling lately as market participants have questioned whether the Fed will let the end-point rate rise above 5% as the impact of last year’s aggressive rate hikes began to emerge. Investors now expect the terminal rate to peak at just below 5 percent by June before falling back later this year.
The dollar’s losses took a break as traders braced for the U.S. consumer price index (CPI).
Simon Harvey, head of foreign exchange analysis at Monex Europe, said: “The market realizes that we have reduced our exposure to the dollar ahead of the CPI announcement, and the continued risk of US inflation is still very large. maintain a high level of interest rates.”
EURIt rose 0.06% to $1.0736, still slightly below the seven-month high hit on Monday (9th);GBPIt fell more than 0.2 percent to $1.2151, retreating from a three-week high.
China’s reopening has given risk assets a boost this week, especially currencies linked to the Chinese economy.
However, after surging to a more than four-month high in the previous session,Australian dollarIt fell slightly today, down nearly 0.3% to $0.6893 before the deadline,source of stringIt was almost flat at $0.6369 by press time.
offshoreRMBSlightly fell 0.1% today, reported 6.784 before the deadline RMBAgainst the dollar, it retreated from a five-month high.
JPYDepreciated nearly 0.3 percent to 132.23 JPYAgainst 1 dollar. After the Bank of Japan unexpectedly adjusted the yield curve control late last year,JPYMostly stronger.
As of about 6:00 on Wednesday (11th) Taiwan time Price:
- dollar indexCall 103.2794. +0.0862%
- EURExchange rate against US dollar (EUR/USD) 1 EURAgainst $1.0736. +0.0373%
- GBPExchange rate against USD (GBP/USD) 1 GBPAgainst $1.2151. -0.2790%
- Australian dollarExchange rate against U.S. dollar (AUD/USD) 1 Australian dollarAgainst $0.6892. -0.2894%
- US dollar againstCanadian Dollars (USD/CAD) exchange rate quoted 1 US dollar to 1.3425 Canadian Dollars。+0.2614%
- US dollar againstJPY (USD/JPY) Exchange rate quoted 1 US dollar to 132.22 JPY。+0.2578%