SINGAPORE, Oct 18 — The dollar made a wobbly start to the week today with the kiwi and sterling edging higher after a red-hot inflation readout in New Zealand and hawkish remarks from Britain’s central bank chief that put rate rises in investors’ sights.
The data lifted the kiwi by about 0.3 per cent to a one-month high of US$0.7105 . Sterling rose 0.1 per cent to US$1.3762, just shy of Friday’s one-month high of US$1.3773. In New Zealand, he said, the surprise leap in prices would only reinforce the need for the Reserve Bank of New Zealand to stay the course on its hiking trajectory, he added.
Fed funds futures are now fully pricing US rate hikes to begin next September as inflation pressures rise, however a relatively shallow cycle is expected, with pricing suggesting rates could linger at 1.5 per cent through 2026.
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