SYDNEY, Oct 6 ― The dollar fought for a footing in choppy trade today, with support from upbeat US data and hawkish policymaker comments, while the prospect of higher energy prices helped exporters' currencies and weighed on those of importers.
“I think that just reminded people that you might be a bit premature in trying to price in rate cuts in the US,” said Westpac currency strategist Imre Speizer. 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.
The yen, which has been held steady by the risk of further Japanese intervention, sat at 144.57 per dollar.
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