Forex
The american dollar rate today is stable amid tough rhetoric by Fed officials
The american dollar rate today was steady in choppy trading on Wednesday after comments from Fed officials about further aggressive rate hikes.
The dollar index to a basket of six major currencies (.DXY) was up 0.03% to 106.272 by 10:06 MSK, recovering earlier losses. Market participants seemed calmed by the fact that U.S. House Speaker Nancy Pelosi’s visit to Taiwan brought no surprises.
“The market has relaxed a bit, probably because of the situation between the U.S. and China,” said Mo Siong Sim of Bank of Singapore.
“I think the market was probably preparing for the worst outcome, maybe the lack of news is good news.”
Recently, Fed officials said they remain united and determined to raise rates to a level that will ensure the stability of the economy.
The Commonwealth Bank of Australia said that in the near future the dollar index will exceed the figure of 108.
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