{"id":1649691,"date":"2022-09-20T16:53:02","date_gmt":"2022-09-20T20:53:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1649691"},"modified":"2022-09-20T16:53:15","modified_gmt":"2022-09-20T20:53:15","slug":"u-s-dollar-advances-before-fed-decision-swedish-hike-fails-to-boost-crown","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-dollar-advances-before-fed-decision-swedish-hike-fails-to-boost-crown\/","title":{"rendered":"U.S. dollar advances before Fed decision; Swedish hike fails to boost crown"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-dollar-advances-before-fed-decision-swedish-hike-fails-to-boost-crown%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1649691&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Gertrude Chavez-Dreyfuss<\/p>\n<p>NEW YORK (Reuters) \u2013     The dollar ascended close to a two-decade high on Tuesday, as investors geared up for another aggressive interest rate hike from the Federal Reserve, the main focus in a week packed with central bank meetings.<\/p>\n<p>The Fed started a two-day meeting on Tuesday, with rate futures traders pricing in an 83% chance of a 75 basis-point hike and a 17% probability of a 100 bps of tightening.<\/p>\n<p>The dollar index was on track for its fifth weekly gain in six and was last up 0.5% at 110.10 <=USD>, just below a more than 20-year high of 110.79 touched earlier this month.<\/p>\n<p>So far this year, the dollar has soared roughly 15%, on pace for its largest yearly percentage gain in 41 years.<\/p>\n<p>\u201cIt\u2019s difficult to see the top for the dollar at the moment. Short-term forces are driving demand for the dollar: the combination of weak risk sentiment, fears of global recession, a hawkish Fed, and the war in Ukraine,\u201d said Vassili Serebriakov, FX strategist, at UBS in  New York.<\/p>\n<p>\u201cThe dollar will turn lower once U.S. inflation peaks and global economy bottoms, but we\u2019re not there yet,\u201d he added.<\/p>\n<p>Also on Tuesday, Sweden\u2019s central bank raised rates by a full percentage point. The rate hike by the Riksbank was larger than analysts had expected, causing the Swedish crown to briefly spike against the euro and dollar. <\/p>\n<p>But it failed to retain that strength. The euro extended recent gains, climbing to a fresh six-month top of 10.8808 crowns. The euro was last up 0.6% at 10.8630. The dollar also climbed 0.6% to 10.8994 crowns. <\/p>\n<p>\u201cIn a way, this was an attempt by the Riksbank to lift the krona, but it failed, and it\u2019s not surprising,\u201d said Francesco Pesole, currency strategist at ING. <\/p>\n<p>He said the relationship between European currencies and central bank policies had been breaking down as markets increasingly traded on Europe\u2019s energy and growth outlook instead. <\/p>\n<p>Providing additional support to the dollar, the U.S. two-year Treasury yield, which is sensitive to rate policy expectations, rose as high as 3.992%, its highest since November 2007.<\/p>\n<p>The euro slid 0.6% to $0.9966, after dropping as low as $0.9864 on Sept. 6 for the first time in two decades.<\/p>\n<p>Europe\u2019s single currency failed to get a boost even after European Central Bank President Christine Lagarde said the bank may need to raise rates to a level that restricts economic growth to cool demand and combat unacceptably high inflation. <\/p>\n<p>The beaten-down sterling fell 0.5% to $1.1385.<\/p>\n<p>The Bank of England will decide on rate policy on Thursday, and investors are split over whether a 50 or 75 bps hike is on the way.<\/p>\n<p>The Bank of Japan also meets this week but is widely expected to keep its ultra-easy stimulus settings unchanged \u2013 including pinning the 10-year yield near zero \u2013 to support a fragile economic recovery.<\/p>\n<p>The yen has slumped this year due to this policy and the dollar was last up 0.4% on the Japanese currency at 143.78, continuing a week-long consolidation after climbing as high as 144.99 on Sept. 7 for the first time in 24 years.<\/p>\n<p>The Japanese currency has plunged nearly 20% against the dollar so far in 2022.<\/p>\n<p>========================================================<\/p>\n<p>Currency bid prices at 3:58PM (1958 GMT)<\/p>\n<p>           Description      RIC         Last           U.S. Close  Pct Change     YTD Pct       High Bid    Low Bid          <\/p>\n<p>                                                       Previous                   Change                              <\/p>\n<p>                                                       Session                                                        <\/p>\n<p>           Dollar index                 110.1300       109.5400    +0.54%         15.123%       +110.2900   +109.3500          <\/p>\n<p>           Euro\/Dollar                  $0.9976        $1.0025     -0.49%         -12.25%       +$1.0051    +$0.9956          <\/p>\n<p>           Dollar\/Yen                   143.6750       143.2000    +0.34%         +24.81%       +143.9150   +142.9350          <\/p>\n<p>           Euro\/Yen                     143.32         143.52      -0.14%         +9.98%        +144.0300   +143.0300          <\/p>\n<p>           Dollar\/Swiss                 0.9641         0.9647      -0.06%         +5.70%        +0.9682     +0.9624          <\/p>\n<p>           Sterling\/Dollar              $1.1383        $1.1434     -0.45%         -15.84%       +$1.1460    +$1.1358          <\/p>\n<p>           Dollar\/Canadian              1.3360         1.3251      +0.83%         +5.67%        +1.3375     +1.3228          <\/p>\n<p>           Aussie\/Dollar                $0.6692        $0.6727     -0.50%         -7.92%        +$0.6747    +$0.6677          <\/p>\n<p>           Euro\/Swiss                   0.9615         0.9667      -0.54%         -7.27%        +0.9682     +0.9604          <\/p>\n<p>           Euro\/Sterling                0.8763         0.8765      -0.02%         +4.32%        +0.8784     +0.8725          <\/p>\n<p>           NZ                           $0.5899        $0.5957     -0.96%         -13.80%       +$0.5975    +$0.5887          <\/p>\n<p>           Dollar\/Dollar                                                                                              <\/p>\n<p>           Dollar\/Norway                10.3210        10.2285     +1.17%         +17.46%       +10.3570    +10.2035          <\/p>\n<p>           Euro\/Norway                  10.3001        10.2043     +0.94%         +2.87%        +10.3215    +10.2296          <\/p>\n<p>           Dollar\/Sweden                10.8799        10.7623     +0.55%         +20.65%       +10.9189    +10.6828          <\/p>\n<p>           Euro\/Sweden                  10.8552        10.7955     +0.55%         +6.03%        +10.8808    +10.7572          <\/p>\n<p> (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Alun John in London and Kevin Buckland in Tokyo; Editing by Chizu Nomiyama, Lisa Shumaker and Richard Chang)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/illustration-shows-u-s-dollar-banknotes\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8J0TV-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8J0TV-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/illustration-shows-u-s-dollar-and-euro-banknotes-3\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8J02G-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8J02G-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) \u2013 The dollar ascended close to a two-decade high on Tuesday, as investors geared up for another aggressive interest rate hike from the Federal<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1649691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1649691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1649691"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1649691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1649691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1649691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1649691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}