{
  "id": 7690044,
  "title": "Dollar girded by bets on a US hiking cycle",
  "url": "https://urgent.news/2026/09/16/dollar-girded-by-bets-on-a-us-hiking-cycle-7690044",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-16T02:43:59.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40439726/dollar-girded-by-bets-on-a-us-hiking-cycle"
  },
  "original_language": "en",
  "account": "The US dollar has been holding onto recent gains and trading close to multi-week highs as traders anticipate a Federal Reserve decision to raise interest rates. A 25 basis-point increase is widely expected, which would give the dollar a modest boost, according to Carol Kong, a currency strategist at the Commonwealth Bank of Australia. However, there is a small chance the dollar could weaken if the Fed hikes and Chairman Kevin Warsh downplays the likelihood of further hikes in his press conference. If the Fed does not raise rates, the dollar could see a steep 1%+ decline. The dollar has risen alongside yields overnight, trading particularly strong against the yen and New Zealand dollar, with the kiwi hitting a two-month low and the yen at a one-week low. The euro is close to a one-month low, while the British pound is near a six-week trough. The Australian dollar has steadied at around $0.7126. While global bond yields have been rising, the dollar has gained more ground recently due to expectations of multiple rate hikes to combat inflation, driven by the Iran conflict and energy price surges. The yen is also seeing a rally, with an 80% chance of a Bank of Japan rate hike on Friday and expectations of two 25-basis-point hikes by the end of January. The USD/JPY forecast has been revised to 155, reflecting doubts about the central bank's ability to meet the tightening pace priced in by markets. South Korea's won and China's yuan are other notable performers, with the won having risen over 15% against the dollar since late June and the yuan's gains holding steady despite widening gaps between low Chinese yields and global rates.",
  "summary": "SINGAPORE: The dollar was hanging on to recent gains on Wednesday and trading near multi-week highs on a handful of major peers ahead of a Federal Reserve decision where traders expect the first of what could be several US interest rate hikes. “A 25 basis-point increase is about 90% priced, implying the dollar will receive a modest boost if the Fed increases,” said Carol Kong, currency strategist…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Dollar girded by bets on a US hiking cycle",
        "url": "https://urgent.news/2026/09/16/dollar-girded-by-bets-on-a-us-hiking-cycle",
        "published": "2026-09-16T01:00:28.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "Swiss Franc edges higher as US Dollar declines despite Fed rate hike bets",
        "url": "https://urgent.news/2026/09/16/swiss-franc-edges-higher-as-us-dollar-declines-despite-fed-rate-hike",
        "published": "2026-09-16T04:30:40.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}