In turn, both both the S&P 500 and the Dow rose on the daywhile commodity-related currencies such as Australian, New Zealand and Canadian dollars, gained ground against the greenback. Investors also sold Treasuries, pushing up yields.
“Stocks are feeling a bit more comfortable today. There doesn’t seem to be a panic.”said Amo Sahota, chief executive of currency consultancy Klarity FX, adding: “Inflation data is moving in the right direction, albeit not fast enough, and growth in the US economy has not been significantly hampered. “.
The Federal Reserve is expected to raise interest rates just 25 basis points at its next meeting in January, after several larger hikes. In the afternoon, the euro strengthened 0.2% to $1.0616.
Against the Japanese currency, however, the dollar rose 0.4% to 132.89 yens. Japan’s currency was headed for a 2.7% weekly decline after the Bank of Japan (BOJ) changed key bond market policy earlier in the week.
The dollar index, which compares the US currency against a basket of six currencies, was little changed at 104.35.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
