Hawkish Fed lifts dollar to seven-week high as focus turn to BOJ
The dollar reached a seven-week high on Thursday after the Federal Reserve raised interest rates and signaled more hikes, while investors awaited decisions from the Bank of England and the Bank of Japan. The currency strengthened as US Treasury yields surged, and Federal Reserve Chair Kevin Warsh provided a more hawkish outlook, hinting at future rate increases.
Warsh's language surprised markets, leading to a re-pricing of policy expectations and a boost in the dollar's value. The dollar's strength also impacted forex pairs, pushing the euro near a seven-week low and the yen close to a two-week low. Market sentiment now focuses on the Bank of Japan, which is projected to raise interest rates to a 31-year high on Friday and may continue to tighten monetary policy.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Euro weakens to near 1.1450 as Fed raises rate for first time in three years fxstreet.com
- Hawkish Fed lifts dollar to seven-week high as focus turn to BOJ channelnewsasia.com
- Hawkish Fed lifts dollar to seven-week high as focus turn to BOJ freemalaysiatoday.com
- Hawkish Fed lifts dollar to seven-week high as focus turn to BOJ brecorder.com
- Hawkish Fed lifts dollar to seven-week high as focus turn to BOJ nst.com.my
- IMF downgrades Australian economic forecast amid fears of interest rate hike theguardian.com
- BOJ faces higher bar to support yen after Fed’s hawkish hike japantimes.co.jp
- Australian dollar crushed as Fed fails Warshach test macrobusiness.com.au
