{"id":1680735,"date":"2022-10-09T20:05:09","date_gmt":"2022-10-10T00:05:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1680735"},"modified":"2022-10-09T20:05:47","modified_gmt":"2022-10-10T00:05:47","slug":"dollar-climbs-as-case-for-u-s-rate-hikes-firms","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-climbs-as-case-for-u-s-rate-hikes-firms\/","title":{"rendered":"Dollar climbs as case for U.S. rate hikes firms"},"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\">18<\/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-climbs-as-case-for-u-s-rate-hikes-firms%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=1680735&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 started the week firmly on Monday, with a strong U.S. labour market reinforcing bets on higher interest rates as traders braced for data expected to show stubbornly high inflation.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>U.S. unemployment unexpectedly fell last month, Friday figures showed, and inflation data due on Thursday is forecast to show headline inflation at a hot 8.1% year-on-year. Policymakers\u2019 preferred core inflation is seen rising to 6.5%.<\/p>\n<p>Westpac strategist Sean Callow said the data and rising yields in response was a \u201crobust combination for the dollar.\u201d<\/p>\n<p>\u201cIt\u2019s further evidence that the U.S. economy is not cratering,\u201d he said. \u201cIt just feeds into the notion that the Fed is going to spend the next three weeks saying the same thing about interest rates.\u201d<\/p>\n<p>Climbing oil prices and geopolitical tension also provided plenty of reasons for nervousness about growth, weighing on energy-importer currencies in Europe and even on exporters such as the growth-sensitive Australian dollar.<\/p>\n<p>The Aussie fell 0.3% to a 2-1\/2 year low of $0.6347 in early trade in Asia that was thinned by a holiday in Japan. Sterling fell 0.2% to $1.1071, while the yen was drifting into a zone on the weaker side of 145 per dollar that prompted authorities\u2019 intervention to support it last month.<\/p>\n<p>The yen was last at 145.37 per dollar. The New Zealand dollar touched a two-week low of $0.5593.<\/p>\n<p>Futures pricing suggests traders see a nearly 90% chance of a 75 basis point rate hike in the United States next month and more than 150 bps of tightening by May. Ten-year Treasury yields rose for a tenth straight week last week. [US\/]\n<p>Benchmark Brent crude futures jumped more than 11% last week after the Saudi-led production cartel agreed to cut supply, while intensifying war in Ukraine is also a threat to Europe\u2019s energy security as winter approaches.<\/p>\n<p>The euro fell below $0.98 on Friday and was last at $0.9733. The U.S. dollar index was steady at 112.83, off lows around 110 last week and creeping back toward last month\u2019s 20-year high of 114.78.<\/p>\n<p>Markets were waiting to see how the Kremlin might respond to a blast that hit Russia\u2019s only bridge to Crimea. Nuclear-armed North Korea made a seventh recent missile test over the weekend.   <\/p>\n<p>Chinese markets reopen after a week-long holiday, and ahead of that the offshore yuan was steady at 7.1310 per dollar. The Communist Party\u2019s 20th National Congress opens on Sunday and is expected to reaffirm Xi Jinping\u2019s leadership.<\/p>\n<p>Services activity in China shrank for the first time since May in September, disappointing expectations.<\/p>\n<p>\u201cThe yuan will likely trade between 7.0 and 7.2 in the near term,\u201d said Scotiabank strategist Qi Gao.<\/p>\n<p>========================================================<\/p>\n<p>Currency bid prices at 2304 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>                                        $0.9733         $0.9732    -0.02%          -14.41%     +0.9739     +0.9728          <\/p>\n<p>           Dollar\/Yen                                                                                               <\/p>\n<p>                                        145.3800        145.2700   +0.12%          +0.00%      +145.4150   +145.4400          <\/p>\n<p>           Euro\/Yen                                                                                                 <\/p>\n<p>                                        141.50          141.62     -0.08%          +0.00%      +141.5700   +141.4700          <\/p>\n<p>           Dollar\/Swiss                                                                                             <\/p>\n<p>                                        0.9948          0.9949     +0.01%          +9.08%      +0.9949     +0.9950          <\/p>\n<p>           Sterling\/Dollar                                                                                          <\/p>\n<p>                                        1.1073          1.1093     -0.19%          -18.13%     +1.1095     +1.1065          <\/p>\n<p>           Dollar\/Canadian                                                                                          <\/p>\n<p>                                        1.3742          1.3739     +0.02%          +8.69%      +1.3754     +1.3725          <\/p>\n<p>           Aussie\/Dollar                                                                                            <\/p>\n<p>                                        0.6352          0.6366     -0.22%          -12.62%     +0.6375     +0.6343          <\/p>\n<p>           NZ                                                                                                       <\/p>\n<p>           Dollar\/Dollar                0.5597          0.5594     +0.06%          -18.23%     +0.5606     +0.5593          <\/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 Sam Holmes.)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/dollar-climbs-as-case\/attachment\/file-photo-illustration-shows-u-s-dollar-banknote\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9809J-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9809J-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tom Westbrook SYDNEY (Reuters) \u2013 The dollar started the week firmly on Monday, with a strong U.S. labour market reinforcing bets on higher interest rates as traders braced for<\/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-1680735","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\/1680735","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=1680735"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1680735\/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=1680735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1680735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1680735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}