Powell’s reappointment strengthens the dollar, even against the shekel by Investing.com

by time news
© Reuters.

| By Gina Lee Investing.com |

The US dollar rose on Wednesday morning in Asia, and was on hiatus after the jump due to the reappointment of Jerome Powell as chairman of the US Federal Reserve. The New Zealand dollar retreated after a smaller-than-expected rise in interest rates by.

, Which measures the currency in relation to the basket of other currencies, rose 0.08% to 96,573 as of 11:18 PM Eastern time (6:18 PM Israel time).

In the local arena, it strengthens against the shekel and rises 0.18% to a rate of NIS 3,136. It also rises 0.15% and its rate is set at 3.526.

The currency pair dropped 0.11% to 115. On Tuesday, the dollar reached a high of more than four years against the yen, after two-year Treasury bond yields soared to a peak not reached since March 2020, and Federal Reserve futures also already represent a chance for three 2022 rate hikes in 2022.

The pair was down 0.32% to 0.7204, and the pair was down 0.63% to 0.6904.

The pair rose 0.02% to 6.3920, and the pair dropped 0.01% to 1.3373.

RBNZ raised its interest rate to 0.75%, raising its interest rate forecast by 50 basis points, when it announced its policy decision earlier in the day, and the New Zealand dollar fell to 0.5% to $ 0.6915.

Investors expected from the central bank a larger raise and a higher forecast of the interest rate, and then there was a sharp reversal in the course of swaps over interest rates.

“The non-fulfillment of the aggressive expectations gives a possible example of the other markets coming to a similar place, but in the meantime, it may be that the New Zealand dollar will once again be in retreat from a rising dollar,” he said.

As told to Reuters strategist said Spicer from Westpac.

READ Also:  Green light for the Sostegni decree: 32 billion in aid

According to him,

“If it falls below $ 0.69, I think there is a danger of falling below 0.68.”

The dollar has reached its highest rate since 2021, and more and more people are betting on the possibility that the Federal Reserve will raise interest rates sooner than expected, in response to continued inflationary pressures. In addition, Powell is expected to respond to inflation sooner and stronger than Lyle Brainard, who also ran for the US Federal Reserve.

On Wednesday, before the holiday that falls on Thursday, the US will release data like,, and.

On the other side of the Atlantic, more than 11% on one trading day, between trading days. The fall of the pound could lead to a further departure of capital and possibly put pressure on currencies of emerging markets around the world.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ Also:  Brent crude price hits $ 70 for the first time since mid-March

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.