The super dollar operates at eight-month lows and awaits definitions from Central Banks

The pound sterling it was up 0.15% at $1.2419 at the opening of the trading session before losing 0.06% to $1.2393.

The dollar indexwhich measures the performance of the greenback against a basket of six currencies, it climbs 0.2% to 101,570, although it is still at its lowest level since the end of May.

The bad results of US companies and a number of layoffs in the technology sector have accentuated the fear of a recession in usaprompting investors to cut their expectations about how much longer the Federal Reserve will aggressively raise interest rates.

the committee of monetary politics of the Federal Reserve will start a two-day meeting next week, and the markets they have discounted one interest rate hike of 25 basis points (bp)a slowdown from the central bank’s 50bp and 75bp hikes last year.

On Thursday, the Commerce Department will publish the preliminary estimates of US Gross Domestic Product (GDP) for the fourth quarter.

The markets expect those responsible for the Bank of England and the European Central Bank (ECB)who also meet next week, raise rates 50 basis points. The ECB will most likely maintain a hawkish stance.

The Canadian dollar was trading at 1.3387 units per US dollar, after the Bank of Canada raised its main interest rate to 4.5% on Wednesdaybut became the first major central bank to say it would probably refrain from further hikes for now.

“The decision has understandably reinforced market expectations that other major central banks, including the Federal Reserve, will soon follow the Bank of Canada and pause their own hike cycles during the first half of this year,” he said. Lee Hardman, MUFG Principal Currency Analyst.

The dollar rose 0.2% against the Japanese currency to 129.89 yen.