Dollar Likely to Remain Firm Unless Fed's Warsh Dampens Rate-Rise Bets
Dow Jones10-28 17:10
0910 GMT - The dollar's strength should persist even if Federal Reserve Chairman Kevin Warsh refrains from sending clear signals about further tightening in December at Wednesday's meeting, Commerzbank's Volkmar Baur says in a note. "Rates are likely to remain unchanged tonight, and if Warsh sticks to his usual line, as seems likely, the press conference should contain few, if any, clues about December." However, as long as nothing is said to dampen market expectations for a rate rise in December followed by two increases next year, the dollar is likely to remain firm, he says. The decision is at 1800 GMT. The DXY dollar index rises 0.1% to 102.371 after earlier reaching a two-week high of 102.491.
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