{"id":1672959,"date":"2022-10-04T20:51:19","date_gmt":"2022-10-05T00:51:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1672959"},"modified":"2022-10-04T20:52:33","modified_gmt":"2022-10-05T00:52:33","slug":"dollar-nurses-pullback-as-traders-glimpse-rate-peaks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-nurses-pullback-as-traders-glimpse-rate-peaks\/","title":{"rendered":"Dollar nurses pullback as traders glimpse rate peaks"},"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\">16<\/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%2Fdollar-nurses-pullback-as-traders-glimpse-rate-peaks%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=1672959&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 Tom Westbrook<\/p>\n<p>SYDNEY (Reuters) \u2013     The dollar nursed its biggest losses for years on Wednesday, after a dovish central bank surprise in Australia had investors wondering whether a peak is in sight for global interest rates.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Overnight the U.S. dollar fell about 1.6% on the euro to test parity at $0.9999 and 1.3% against sterling to $1.1490. The U.S. dollar index fell 1.3%, its biggest drop since the wild pandemic market of March 2020. It is down more than 4% since hitting a 20-year peak last week.<\/p>\n<p>The Aussie and yen were a bit left behind, as was the New Zealand dollar with markets wary the Reserve Bank of New Zealand may also deliver a dovish surprise later in the day. That kept morning moves minor.<\/p>\n<p>On Tuesday, the Reserve Bank of Australia hiked interest rates only 25 basis points (bps) when markets had been priced for a better-than-even chance of 50 bps, triggering a sharp bond rally and a reduction in peak cash-rate expectations.<\/p>\n<p>\u201cIt signals a lower peak, coming later,\u201d said Nomura economist Andrew Ticehurst in Sydney. Market pricing reeled back the projected peak in Australia\u2019s cash rate from above 4% to just above 3.5%.<\/p>\n<p>\u201cThe A$ did underperform a little, but it\u2019s underperformance was relatively modest given such a massive move in cash-rate thinking,\u201d Ticehurst added, a signal of fragile market sentiment rather than rates likely to be the major driver ahead.<\/p>\n<p>The Aussie crept marginally higher to $0.6512 on Wednesday. The kiwi hovered at $0.5736. New Zealand\u2019s interest rate decision is due at 0100 GMT.<\/p>\n<p>The mood has been significantly improved over recent days as Britain has showed some flexibility in spending plans that had spooked bond and currency markets.<\/p>\n<p>Sterling is more than 11% above week-ago record lows, and the bounce has been helpful for the euro. Analysts, however, are cautious about how much has really changed about Britain\u2019s fiscal outlook and how broad Australia\u2019s rates signal really is.<\/p>\n<p>U.S. Federal Reserve Governor Philip Jefferson reiterated overnight that inflation was policymakers top target and that growth would suffer in efforts to bring it down \u2013 not brooking any sort of Australia-style slowdown or shift in rate hikes.<\/p>\n<p>U.S. labour data due on Friday will be the next major indicator of the likely trajectory of U.S. rates. <\/p>\n<p>\u201cI think it would be wrong to assume that Australia\u2019s move is a leading indicator for the Fed,\u201d said NatWest Markets\u2019 U.S. rates strategist Jan Nevruzi.<\/p>\n<p>\u201cThe \u2018peak Fed hawkish\u2019 narrative is one that has seen several false starts \u2013 data will tell us if today is another such move.\u201d<\/p>\n<p>========================================================<\/p>\n<p>Currency bid prices at 0007 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>           Euro\/Dollar                                                                                              <\/p>\n<p>                                        $0.9987         $0.9988    -0.01%          -12.15%     +0.9987     +0.9980          <\/p>\n<p>           Dollar\/Yen                                                                                               <\/p>\n<p>                                        143.7750        144.0950   -0.16%          +0.00%      +144.1950   +143.8700          <\/p>\n<p>           Euro\/Yen                                                                                                 <\/p>\n<p>                                        143.59          143.91     -0.22%          +10.18%     +144.0000   +143.5200          <\/p>\n<p>           Dollar\/Swiss                                                                                             <\/p>\n<p>                                        0.9786          0.9797     -0.08%          +0.00%      +0.9797     +0.9789          <\/p>\n<p>           Sterling\/Dollar                                                                                          <\/p>\n<p>                                        1.1455          1.1477     -0.21%          -15.32%     +1.1486     +1.1449          <\/p>\n<p>           Dollar\/Canadian                                                                                          <\/p>\n<p>                                        1.3511          1.3508     +0.04%          +0.00%      +1.3526     +1.3505          <\/p>\n<p>           Aussie\/Dollar                                                                                            <\/p>\n<p>                                        0.6515          0.6502     +0.20%          -10.37%     +0.6515     +0.6500          <\/p>\n<p>           NZ                                                                                                       <\/p>\n<p>           Dollar\/Dollar                0.5737          0.5732     +0.07%          -16.20%     +0.5737     +0.5728          <\/p>\n<p>All spots<\/p>\n<p>Tokyo spots<\/p>\n<p>Europe spots <\/p>\n<p>Volatilities <\/p>\n<p>Tokyo Forex market info from BOJ<\/p>\n<p> (Reporting by Tom Westbrook. Editing by Lincoln Feast.)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/dollar-nurses-pullback-as\/attachment\/illustration-shows-u-s-dollar-banknote-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9400E-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9400E-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tom Westbrook SYDNEY (Reuters) \u2013 The dollar nursed its biggest losses for years on Wednesday, after a dovish central bank surprise in Australia had investors wondering whether a peak<\/p>\n","protected":false},"author":66,"featured_media":1889501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1672959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/dollar-nurses-pullback-as\/?utm_source=rss&utm_medium=rss&utm_campaign=dollar-nurses-pullback-as","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1672959","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=1672959"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1672959\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889501"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1672959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1672959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1672959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}