{"id":1675000,"date":"2022-10-05T21:51:07","date_gmt":"2022-10-06T01:51:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1675000"},"modified":"2022-10-05T21:51:50","modified_gmt":"2022-10-06T01:51:50","slug":"dollar-clings-to-gains-as-bets-on-further-fed-hikes-firm","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-clings-to-gains-as-bets-on-further-fed-hikes-firm\/","title":{"rendered":"Dollar clings to gains as bets on further Fed hikes firm"},"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\">22<\/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-clings-to-gains-as-bets-on-further-fed-hikes-firm%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=1675000&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 fought for a footing in choppy trade on Thursday, with support from upbeat U.S. data and hawkish policymaker comments, while the prospect of higher energy prices helped exporters\u2019 currencies and weighed on those of importers.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The dollar rose 1% on the euro and 1.3% on sterling overnight and was trying to hold those gains in bumpy early trade in Asia. The euro has now made two unsuccessful attempts to regain parity this week and last bought $0.9916. Sterling\u2019s rebound from record lows has paused just below $1.15.<\/p>\n<p>The U.S. services industry posted another month of expansion in September, data showed overnight, while labour market figures were solid and the trade deficit narrowed. San Francisco Fed President Mary Daly reiterated policymakers\u2019 focus on inflation fighting and dismissed market hopes for rate cuts in 2023.<\/p>\n<p>\u201cI think that just reminded people that you might be a bit premature in trying to price in rate cuts in the U.S.,\u201d said Westpac currency strategist Imre Speizer.<\/p>\n<p>\u201cThat pushed up rates and pushed up the U.S. dollar,\u201d he said, as the Federal Reserve\u2019s aggressive moves to rein in inflation sets the pace for central banks around the globe.<\/p>\n<p>\u201cIts one trade for the whole world,\u201d said Speizer. \u201cNo one currency\u2019s interest rates are really able to go off and do their own thing independently.\u201d<\/p>\n<p>Bond markets globally sold sharply. Interest rate futures imply more than 130 basis points of tightening ahead for the Fed before the middle of next year. [US\/][GVD\/EUR][GB\/]\n<p>The U.S. dollar index wobbled 0.06% lower to 110.86, off lows near 110 from earlier in the week, though some distance below last week\u2019s 20-year high of 114.78.<\/p>\n<p>Sterling last bought $1.1367, while the Australian and New Zealand dollars each rose about 0.4%, taking the Aussie to $0.6518 and the kiwi to $0.5772. [AUD\/]\n<p>The yen, which has been held steady by the risk of further Japanese intervention, sat at 144.57 per dollar.<\/p>\n<p>The Saudi Arabia-led cartel of oil producers agreed to steep production cuts on Wednesday, lifting Brent crude futures to a three-week high of $93.99 a barrel. [O\/R]\n<p>\u201cHigher energy prices would have a much more direct impact on the European region given the more direct relationship to their finances,\u201d said NatWest Markets\u2019 strategist Jan Nevruzi.<\/p>\n<p>Later on Thursday the European Central Bank releases minutes from last month\u2019s policy meeting. Traders are also awaiting Friday\u2019s U.S. labour market data to gauge how fast and far the Fed might be willing to lift interest rates.<\/p>\n<p>========================================================<\/p>\n<p>Currency bid prices at 0058 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>                                        $0.9916         $0.9886    +0.32%          -12.77%     +0.9925     +0.9881          <\/p>\n<p>           Dollar\/Yen                                                                                               <\/p>\n<p>                                        144.5950        144.5450   +0.03%          +0.00%      +144.6050   +144.4150          <\/p>\n<p>           Euro\/Yen                                                                                                 <\/p>\n<p>                                        143.39          143.00     +0.27%          +10.03%     +143.4100   +142.8500          <\/p>\n<p>           Dollar\/Swiss                                                                                             <\/p>\n<p>                                        0.9808          0.9830     -0.22%          +7.53%      +0.9830     +0.9802          <\/p>\n<p>           Sterling\/Dollar                                                                                          <\/p>\n<p>                                        1.1362          1.1319     +0.52%          -15.87%     +1.1383     +1.1302          <\/p>\n<p>           Dollar\/Canadian                                                                                          <\/p>\n<p>                                        1.3594          1.3617     -0.19%          +7.49%      +1.3620     +1.3581          <\/p>\n<p>           Aussie\/Dollar                                                                                            <\/p>\n<p>                                        0.6510          0.6491     +0.33%          -10.41%     +0.6525     +0.6488          <\/p>\n<p>           NZ                                                                                                       <\/p>\n<p>           Dollar\/Dollar                0.5771          0.5746     +0.53%          -15.61%     +0.5785     +0.5740          <\/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 Shri Navaratnam)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/dollar-clings-to-gains\/attachment\/illustration-shows-u-s-dollar-banknote-3\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9500P-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9500P-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tom Westbrook SYDNEY (Reuters) \u2013 The dollar fought for a footing in choppy trade on Thursday, with support from upbeat U.S. data and hawkish policymaker comments, while the prospect<\/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-1675000","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\/1675000","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=1675000"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1675000\/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=1675000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1675000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1675000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}