TOKYO - The dollar trod water on Friday and was set to show a weekly rise as investor focus turned to next week’s Federal Reserve meeting for hints on a possible rate cut in light of rising risks to trade and global growth.
The Federal Open Market Committee’s two-day policy meeting is set to begin on Tuesday. With trade tensions rising, U.S. growth slowing and hiring in May declining, markets have priced in at least two rate cuts by the end of 2019. “However, other currencies like euro and sterling are weak and their weakness is helping the strength of the dollar,” he said.
Geopolitical risks have risen to the fore quite strongly, said Bart Wakabayashi, Tokyo branch manager at State Street Bank. Motegi said the two would probably meet again ahead of the G20 summit meeting in Osaka, Japan late this month.
Source: Entertainment Trends (entertainmenttrends.net)
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