{"id":129487,"date":"2021-06-21T01:17:13","date_gmt":"2021-06-21T01:17:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=129487"},"modified":"2021-06-21T01:17:13","modified_gmt":"2021-06-21T01:17:13","slug":"dollar-holds-near-multi-month-high-after-feds-hawkish-tilt","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/dollar-holds-near-multi-month-high-after-feds-hawkish-tilt\/","title":{"rendered":"Dollar holds near multi-month high after Fed's hawkish tilt"},"content":{"rendered":"

TOKYO (Reuters) – The dollar held near multi-month peaks against other major currencies on Monday, after the U.S. Federal Reserve surprised markets last week by signalling it would raise interest rates and end emergency bond-buying sooner than expected.<\/p>

FILE PHOTO: A U.S. five dollar note is seen in this illustration photo June 1, 2017. REUTERS\/Thomas White\/Illustration\/File Photo<\/figcaption>

The dollar index, which tracks the greenback against six major currencies, stood at 92.232 after gaining 1.9% last week, its biggest rise since March 2020.<\/p>\n

On Friday, it jumped above key resistance around 91.95, marking a 61.8% retracement from its decline to 89.53 earlier this month from an April peak of 93.439.<\/p>\n

\u201cLike many, I had expected the 61.8 Fibonacci retracement in the dollar index to hold for a bit … and at least see some consolidation,\u201d said Chris Weston, the head of research at Pepperstone Markets Ltd, a foreign exchange broker based in Melbourne.<\/p>\n

\u201cThat wasn\u2019t to be, and it seems technical resistance means very little when this type of re-positioning event plays out.\u201d<\/p>\n

The euro traded at $1.1872, having hit a 2 1\/2-month low of $1.1847 on Friday.<\/p>\n

The British pound fetched $1.3809, standing near Friday\u2019s two-month low of $1.3791.<\/p>\n

The Australian dollar wobbled at $0.7503, having dropped to as low as $0.7478, a low last seen in December.<\/p>\n

The safe-haven yen held firmer as the Fed\u2019s tilt hit risk asset prices. It ticked up to 110.185 yen to the dollar, pulling away from Thursday\u2019s 2 1\/2-month low of 110.825<\/p>\n

The jolt to foreign exchanges was triggered on Wednesday by Fed forecasts showing 13 of the 18-person policy board saw rates rising in 2023, versus only six previously, with the median board member tipping two hikes in 2023.<\/p>\n

Investors\u2019 risk appetite took another hit after St. Louis Federal Reserve President James Bullard said on Friday that the U.S. central bank\u2019s shift toward a faster tightening of monetary policy was a \u201cnatural\u201d response to economic growth and particularly inflation moving quicker than expected as the country reopens from the coronavirus pandemic.<\/p>\n

\u201cThe Fed\u2019s latest dot plot was a meaningful surprise. In a scenario where markets continue to move Fed pricing in a hawkish direction, we could envision the euro\/dollar falling an additional 2%, if European rates remain about unchanged,\u201d wrote analysts at Goldman Sachs.<\/p>\n

But they also noted they do not expect a sustained dollar either, noting that other central banks will need to consider policy normalisation as their economies recover from depressed levels.<\/p>\n

In cryptocurrencies, bitcoin stood at $35,689, while ether changed hands at $2,241, both paring losses made during the weekend to stand little changed from Friday\u2019s closing levels.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TOKYO (Reuters) – The dollar held near<\/p>\n","protected":false},"author":3,"featured_media":129486,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nDollar holds near multi-month high after Fed's hawkish tilt - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/dollar-holds-near-multi-month-high-after-feds-hawkish-tilt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar holds near multi-month high after Fed's hawkish tilt - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"TOKYO (Reuters) – The dollar held near\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/dollar-holds-near-multi-month-high-after-feds-hawkish-tilt\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-21T01:17:13+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/06\/Dollar-holds-near-multi-month-high-after-Feds-hawkish-tilt.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/dollar-holds-near-multi-month-high-after-feds-hawkish-tilt\/\",\"url\":\"https:\/\/precoinnews.com\/business\/dollar-holds-near-multi-month-high-after-feds-hawkish-tilt\/\",\"name\":\"Dollar holds near multi-month high after Fed's hawkish tilt - 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