Dollar Could Extend Gains if Markets Increase Bets on October Fed Rate Rise
Dow Jones17:04
0904 GMT - The U.S. dollar has scope to rise further in the near term if markets assign a higher probability of the Federal Reserve raising interest rates again next month, ING's Francesco Pesole says in a note. Stronger upcoming U.S. data and further gains in energy prices would potentially encourage markets to add to the 13 basis points of tightening currently priced for next month, he says. Meanwhile, President Trump is due to meet Chinese President Xi Jinping in Washington on Thursday. "While this shouldn't be a major market event, positive trade headlines could provide some support to the dollar," Pesole says. The DXY dollar index rises 0.1% to 100.277, having reached a seven-week high of 100.564 Friday.
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