The New Zealand dollar dipped 0.2% to $0.6225 and the Aussie, up 1.5% for the week so far, was flat at $0.6682 as investors caught their breath. Sterling, up about 1% for the week, steadied at $1.2149. consumer prices increased solidly in February, keeping the pressure on the Federal Reserve to contain price rises. That is a lot more dovish than a week ago when markets priced a similar chance of a 50 bp hike, but it is also a lot more hawkish than a day ago when crisis fears had traders pricing a 50% chance of a hold and steep cuts later in the year. ![]() dollar being a bit weaker than where it was a week ago." "I think we end up with a lower Fed peak than was priced a week ago and all else equal that should result in the U.S. "When all the dust clears I think we'll end up with a dollar not being quite as strong and the flow of data will probably resume the centre stage," Westpac strategist Imre Speizer said. Rallies in sterling, Scandinavian currencies, the Australian dollar and the New Zealand dollar also seemed to lose steam - though without really giving back any ground. Overnight, banking stocks bounced and bonds and interest rate futures gave back some of the huge gains they logged following the collapse of three U.S. That carried it to 132.52 yen and $1.0729 against the common currency. ![]() ![]() In early trade, the dollar selling of the past two sessions had abated and the greenback rose about 0.2% on both the euro and yen. rate cuts as fear of a banking crisis ebbed and another stubbornly high inflation print landed. The dollar found support in Asia on Wednesday as investors dialled back expectations of U.S.
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