💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Dollar firm as Fed ups the ante on rate hike

Published 02/03/2017, 07:36 pm
EUR/USD
-
USD/JPY
-
DX
-

Investing.com - The dollar held onto gains Thursday as more Fed members argued the case for a rate hike "soon."
The dollar index was up 0.13% near seven-week highs at 101.87 at 03:00 ET.
Fed member Lael Brainard, seen as a dove, on Wednesday said a rate hike would be "appropriate soon."
Earlier, Fed member Robert Kaplan also argued the case for near-term tightening.
The latest remarks seem part of concerted efforts by the Fed to bring the market on board to the idea of a March rate hike.
Investing.com's Fed Rate Monitor Tool put the odds of a March hike at over 66%.
Fed Chair Janet Yellen and deputy Stanley Fischer are due to speak on Friday.
Data Thursday showed U.S. factory activity at a 30-month high, while inflation PCE hit a four-year high.
The market is warming to the idea of a rate hike as an act of faith in the growing strength of the U.S. economy.
That idea is reinforced by the Trump administration's plans for infrastructure spending and tax cuts.
The euro remained under pressure at the $1.05 mark as political jitters persist.
The yen lost further ground against the dollar, slipping to the 114 level.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.