AED
USD 0.27
AFN
USD 0.01
ALL
USD 0.01
AMD
USD 0.00
ANG
USD 0.56
AOA
USD 0.00
ARS
USD 0.00
AUD
USD 0.66
AWG
USD 0.56
AZN
USD 0.59
BAM
USD 0.55
BBD
USD 0.50
BDT
USD 0.01
BGN
USD 0.55
BHD
USD 2.66
BIF
USD 0.00
BMD
USD 1.00
BND
USD 0.74
BOB
USD 0.14

Dollar Rebounded After Fed Minutes

0 50

The dollar rebounded from its lowest level in two and a half months on Wednesday, following indications from the recent Federal Reserve meeting minutes that interest rates are likely to remain constrained for some time. The Federal Reserve meeting minutes showed that the central bank would move “cautiously,” with all participants considering it appropriate to maintain the current interest rate. Federal Reserve officials agreed that they would not raise interest rates unless progress in controlling inflation falters, echoing recent policy maker comments that left the door open for further tightening. The dollar index, which measures the currency’s performance against a basket of currencies, rose 0.2 percent to 103.78, moving away from its late August low of 103.17 touched on Tuesday. The index declined by about 2.6% in November, heading for its worst monthly performance in a year.

Analysts also noted that traders were eager to withdraw money from the market before liquidity fades during the Thanksgiving holiday in the United States. The yields on high-earning U.S. Treasury bonds, which boosted the dollar, retreated from their highest levels in several years reached in October as investors intensified their bets that the Federal Reserve had ended interest rate hikes after a slowdown in U.S. inflation in the same month.

In another development, the British Chancellor of the Exchequer, Rishi Sunak, is expected to announce tax cuts for companies and possibly some voters in a statement later on Wednesday.

As for the yen, speculation suggests that the Bank of Japan may exit negative interest rates early next year, but at present, analysts believe the risk of intervention has diminished. More than 80% of economists in a Reuters survey believe that the Bank of Japan will end its negative interest rate policy next year.

In the cryptocurrency market, Bitcoin rose after prosecutors announced that Binance CEO Changpeng Zhao would step down and admit guilt in violating U.S. anti-money laundering laws as part of a $4 billion settlement to resolve a years-long investigation globally.

You can now benefit from LDN company’s services through the LDN Global Markets trading platform.

Leave A Reply

Your email address will not be published.