In the New York foreign exchange market, the dollar rose slightly to hit its highest level in two months at the end of the day. Taken in July 2022 (2024 Reuters/Dado Ruvic)
NEW YORK/LONDON (Reuters) – The dollar rose slightly on the New York foreign exchange market in late trading, reaching a two-month high. The market calmly received the minutes of the Federal Open Market Committee (FOMC) meeting held on September 17-18, in which the US Federal Reserve (Fed) decided to cut interest rates by a significant 50 basis points (bp). The government has circulated comments from Federal Reserve officials and is set to release the Consumer Price Index (CPI) on the 10th.
Investors have become increasingly confident that the Fed will not continue its aggressive easing measures and have already scaled back expectations for interest rate cuts following last week’s strong jobs report. I accepted it as something.
The federal funds yield market is predicting an 83% chance that the FOMC will cut interest rates by 25 basis points in November. We see a 50% chance of another 50 basis points cut by the end of the year. The probability of not cutting interest rates in November is 17%.
The dollar index hit its highest level since August 16, rising 0.38% to 102.88.
The euro/dollar pair extended its decline to a two-month low, falling 0.36% to $1.094.
The dollar/yen exchange rate rose 0.72% to 149.26 yen. This was the highest price since August 15.
The Australian dollar fell 0.43% to 0.6716 US dollars.
The New Zealand dollar fell 1.32% to NZ$1 = US$0.6057, the lowest since August 19.
Sterling fell 0.25% to $1.3071, its lowest since September 12.
The crypto asset (virtual currency) Bitcoin fell 1.60% to $61,348.93.
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2024-10-09 23:53:00
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