Fed Rate-Rise Expectations Should Keep Dollar Supported
Dow Jones21:09
1309 GMT - The dollar is likely to stay elevated due to increased expectations of the U.S. Federal Reserve increasing interest rates further at upcoming meetings, Convera's market insights team say in a note. The most recent U.S. jobs data and inflation data came in stronger than expected, leading markets to raise their expectations of more Fed rate rises. Investors fully price in at least a 25 basis points Fed rate increase on December 10, and place a 9% chance of a more aggressive 50bps rate hike, LSEG data show. The DXY dollar index trades flat at 102.926, having hit a 19-month high of 103.083 overnight.
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