dollar indexTuesday (9th) rose slightly. Traders believed that progress in the US debt ceiling negotiations could not be achieved. They also focused on the upcoming US inflation data, hoping to understand the economic outlook and the Fed’s (Fed) rate hike path.
ICE, which tracks the dollar against six major currencies, in late U.S. trade dollar index (DXY) rose 0.26 percent to 101.64.
John Doyle, vice president of U.S. trading at Monex, said: “I believe we may see grandstanding in the debt ceiling talks. That’s what’s causing the dollar to strengthen.”
On the other hand, the U.S. consumer price index (CPI), which is due to be released on Wednesday (10th), may set the tone for currency trading following last week’s stronger-than-expected non-farm payrolls report.
Jane Foley, head of foreign exchange strategy at Rabobank, said: “Discussions about sticky inflation are very common in the market, and the Fed may not cut interest rates this year, which is in line with our view. Related discussions bring us to CPI data. If the Fed’s actions Depending on the data, this release is important and the market is paying attention.”
Analysts believe that any policy adjustments by the Fed must be assessed against the backdrop of recent banking turmoil and political deadlock over the debt ceiling in the United States.
EURIt fell back for two consecutive trading days, falling 0.4% to $1.096, a one-week low; on the eve of the Bank of England’s decision-making meeting,GBPIt was flat at $1.2618, continuing to hover near a one-year high.
The market expects that in the face of persistently high inflation, the Bank of England will raise interest rates for 12 consecutive times on Thursday (11th), raising the interest rate by 1 yard to 4.5%.
JPYDepreciation for three consecutive trading days, the exchange rate against the US dollar fell 0.1% to 135.20 JPYAgainst 1 dollar.
Bank of Japan (BOJ) President Kazuo Ueda recently stated that once the sustainable inflation target of 2% is reached, the central bank will end the yield curve control policy (YCC) and start shrinking its balance sheet.
As investors await U.S. inflation data for clues on the Fed’s outlook for interest rates,Canadian DollarsThe trend hardly changed much, slightly depreciating 0.08% to 1.3382 before the deadline Canadian dollarAgainst 1 dollar.
Australian dollarandsource of stringAll of them ended their daily gains.Australian dollarIt retreated from a near one-month high, down about 0.3 percent to $0.6762,source of stringIt also fell more than 0.1 percent to $0.6335.
As of about 6:00 on Wednesday (10th) Taiwan time Price:
- dollar indexCall 101.6536. +0.2732%
- EURExchange rate against US dollar (EUR/USD) 1 EURAgainst $1.0960. -0.4089%
- GBPExchange rate against USD (GBP/USD) 1 GBPAgainst $1.2617. -0.0238%
- Australian dollarExchange rate against U.S. dollar (AUD/USD) 1 Australian dollarAgainst $0.6762. -0.2655%
- US dollar againstCanadian Dollars (USD/CAD) exchange rate quoted 1 US dollar to 1.3380 Canadian Dollars。+0.0673%
- US dollar againstJPY (USD/JPY) exchange rate quoted 1 US dollar to 135.11 JPY。+0.0444%
2023-05-09 22:01:39
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