Quick links: United States | Major Indices | Indices Future | Real-time Commodities | Webinars | Coronavirus | Economic Calendar
Stock Market
Google executive to take over as a new CEO of Pinterest
Stock Market
Accounting firm gets 100 million fine for faulty regulations
Forex
The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price
Stock Market
Wall Street Lose Balance after recession strikes growth fear among consumers’
Stock Market
Inflation ringing the recession bell - Mohammed Shaheen
Stock Markets
28 Jan 2022
Dollar Turns Promising as Fed Interest Rate Hikes Loom
The Index Today
The dollar has turned promising as expectations of Fed-sanctioned interest rate hikes turn strong. The greenback is headed for a bullish outlook poised to hit a record seven-month high on Friday.
Following the conclusion of their two-day meeting on Wednesday, Chair Jerome Powell hinted that the Federal Reserve is prepared to implement as many as five rate hikes this year to counter the growing problem of inflation.
The dollar has edged higher by 2% on the Australian and New Zealand dollars, while surging by 1.7% against the euro.
Ray Attrill, Head of FX Strategy at Bank of Australia, says, "So much for all those analysts rushing to conclude that the dollar rally was done, following the early-year divergence between [rising] U.S. interest rates and the [falling] dollar."
©Photo: Financial Times
