- Analytics
- News and Tools
- Market News
- The US Dollar holds on to Tuesday gains – BBH
The US Dollar holds on to Tuesday gains – BBH
The US Dollar (USD) is holding on to Tuesday gains triggered in part by hawkish comments from Federal Reserve (Fed) Governor Michelle Bowman, BBH Global Currency Strategy analysts note.
Fed comments give USD a lift
“Bowman warned ‘we are still not yet at the point where it is appropriate to lower the policy rate’, adding ‘I remain willing to raise the target range for the federal funds rate at a future meeting should progress on inflation stall or even reverse.’”
“Meanwhile, Fed Governor Lisa Cook reminded market participants that ‘with significant progress on inflation and the labor market cooling gradually, at some point it will be appropriate to reduce the level of policy restriction. The timing of any such adjustment will depend on economic data and what they imply.’”
“The cyclical USD uptrend is intact. First, Fed policy continues to diverge with that of most other major central banks. Second, the favourable US macro backdrop justifies an upward reassessment in Fed funds rate expectations. Third, the June composite PMI prints show growth momentum favours the US economy.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
