U.S. Dollar Higher On Fed Remarks
2024年6月26日 - 10:06PM
RTTF2
The U.S. dollar moved up against its major counterparts in the
New York session on Wednesday, as hawkish comments from Fed
officials lowered expectations for rate cuts this year.
On Tuesday, Fed Governor Michelle Bowman has warned of upside
risks to the inflation outlook while her colleague Lisa Cook said
it will be appropriate to reduce interest rates "at some
point."
Investors await the release of the U.S. personal consumption
expenditures (PCE) price index, the Fed's preferred measure of
inflation, to assess rate cut trajectory.
Reports on durable goods orders, pending home sales, weekly
jobless claims and final GDP are due on Thursday.
President Joe Biden and former President Donald Trump will
participate in the first presidential debate to be held on
Thursday.
Data from the Commerce Department showed that U.S. new home
sales saw a substantial decrease in the month of May.
New home sales plunged by 11.3 percent to an annual rate of
619,000 in May after jumping by 2.0 percent to a revised rate of
698,000 in April.
Economists had expected new home sales to rise to an annual rate
of 640,000 from the 634,000 originally reported for the previous
month.
The greenback climbed to a multi-year high of 160.82 against the
yen and a 2-week high of 0.8983 against the franc, off its early
lows of 159.60 and 0.8938, respectively. The greenback is seen
finding resistance around 163.00 against the yen and 0.92 against
the franc.
The greenback appreciated to a 1-1/2-month high of 1.2617
against the pound and near a 2-month high of 1.0666 against the
euro, from its early lows of 1.2693 and 1.0717, respectively. The
next possible resistance for the greenback is seen around 1.24
against the pound and 1.05 against the euro.
The greenback rose to a 2-day high of 1.3703 against the loonie
and a 1-1/2-month high of 0.6076 against the kiwi, reversing from
its early lows of 1.3647 and 0.6128, respectively. The currency is
likely to locate resistance around 1.39 against the loonie and 0.58
against the kiwi.
The greenback recovered to 0.6640 against the aussie, from an
early 2-week low of 0.6688. Next key resistance for the currency is
seen around the 0.64 level.
Sterling vs US Dollar (FX:GBPUSD)
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