Dollar at 2-Month Highs as Markets Weigh Rate Hikes, Iran Diplomacy
- On Wednesday, the United States dollar steadied near its strongest level in two months on prospects of near-term interest rate hikes from the Federal Reserve.
- Easing oil prices fueled by diplomatic hopes at the General Assembly to resolve the Middle East war kept investors cautious as Brent crude futures declined for six straight sessions.
- Kieran Williams, head of Asia FX at Intouch Capital Markets, said "The dollar's support from rates looks durable, but futures already price more tightening than the Fed's own projections, so the dollar now needs the data to confirm it."
- The BOJ's recent rate hike failed to narrow the yield gap because the Fed hiked by the same amount two days earlier; Williams noted 160 per United States dollar remains an intervention risk.
- Investors await a high-stakes meeting between President Donald Trump and Chinese President Jinping seeking stability, while Trump suggested a deal to end the war with Iran could come soon.
46 Articles
46 Articles
Future gold contracts closed this Wednesday (23) in sharp fall, while the market expanded high interest bets by the Federal Reserve (Fed). Recalcification took place after the release of strong activity data by S&P Global, for September, and the highest interest-prone statements by US central bank leaders. At Comex, the metal division of the New York Mercantile Exchange (Nymex), future gold contracts with delivery for September closed down by 1.…
Why are gold prices falling today, and will it continue to drop or rise again?
Gold prices fell more than 1% on Wednesday due to a stronger US dollar and Federal Reserve comments increasing expectations for more rate increases. Spot gold fell to $4,304.89 an ounce, while US gold futures also declined. Investors are also watching oil prices, inflation concerns and monetary policy as key factors for gold.
Dollar jumps to near two-month high on Fed outlook, oil climb
NEW YORK, Sept 23 : The US dollar rose to its highest level in nearly two months on Wednesday as investors priced in a rate hike cycle from the Federal Reserve, while oil prices jumped as comments from Iran cast doubt on progress in peace talks.In the wake of the central bank's rate hike last week, comments f
Greenback hits near two-month high on Fed rate hike prospects
The US dollar rose to its strongest level in almost two months on Wednesday (Sep 23) on prospects of interest-rate hikes in the near term, although easing oil prices could alter the global in... Read more at The Business Times.
The dollar has stabilized near its highest level in two months by supporting the prospects of tightening monetary policy, while investors are looking forward to the developments of the war in the Middle East and the pursuit of a settlement that could ease oil pressure and inflation.
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