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Saturday, September 24, 2022

Investors await new signals and the super dollar loses power

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Fed policymakers have continued to dispute the perception that US rates are close to peaking. San Francisco Fed Presidents Mary Daly and Minneapolis Fed Presidents Neel Kashkari expressed their determination to curb high inflation.

However, the impact of this rhetoric on the dollar seemed to be fading, with the currency in a more defensive mood as the London session progressed, with the pound trading higher.

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“Yesterday we had some harsh comments. However, it may not be enough and investors will look for confirmation of the data, especially tomorrow’s payrolls figure,” said Francesco Pesole, currency strategist at ING, referring to the data. United States employment.

“The effect on the dollar is fading today. Risk appetite is also more bullish and it doesn’t look like the markets are too concerned about the situation in Taiwan,” he added.

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The dollar index, which compares the greenback to a basket of six major currencies, was trading at 106.18, down 0.3% but above a one-month low hit earlier this week.

The euro was up 0.25% at $1.0195, and the US currency was up 0.2% against its Japanese pair at 134.13 yen.

Source: Ambito

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