Forex Today: US Dollar stands tall as focus remains on central bank commentary
Here is what you need to know on Thursday, September 24:
On Thursday, September 24, the US Dollar (USD) maintained its strength against other currencies, with the USD Index remaining above 101.00 after gaining over 0.5% on Wednesday. Market participants will continue to closely monitor comments from central bank policymakers, including the Federal Reserve (Fed). The US Dollar proved to be the strongest against the Australian Dollar in the week.
The benchmark 10-year US Treasury bond yield rose more than 3% during the trading hours, reaching its highest level since July 2007 above 5.1%, which bolstered the USD. The S&P Global Composite Purchasing Managers Index (PMI) in the US increased to 58.4 in September, indicating a faster-than-expected expansion of business activity.
Fed Governor Michael Barr delivered a hawkish message on Wednesday, suggesting that further rate hikes are likely needed to achieve inflation control. This statement reinforced expectations of additional policy tightening, supporting the Dollar. Looking ahead, market focus will shift to the summit between President Trump and Chinese leader Xi Jinping.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
