The euro reached as far as $1.0903 , breaking the recent peak of $1.08875 and opening the way to a spike top from last April at $1.0936.
Investors also have around 50 basis points of U.S. rate cuts priced in for the second half of the year, reflecting softer data on inflation, consumer spending and housing. "Additionally, U.S. inflation is seen falling further and faster than the Fed's own projections," he added. "Under this scenario, the USD has scope to fall much further this year."Much the same argument goes for sterling, with markets wagering the Bank of England will hike by half a point to 4.0% at its policy meeting next week.The dollar was thus a shade weaker against a basket of currencies at 101.740 and just a whisker for its recent eight-month trough of 101.510.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Euro nears nine-month peak as ECB hawks let flyThe dollar was staring at a fourth straight session of losses against the euro on Monday as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve. The effect of Europe's late interest rate hikes, which acted as an owl during the FED's hawk statements 😁 Nice
Source: Reuters - 🏆 2. / 97 Read more »
ECB set to raise rates by 0.5% in Feb and March, Knot saysThe European Central Bank (ECB) is set to raise interest rates by 50 basis points in both February and March and will continue to raise rates in the months after, ECB governing council member Klaas Knot said in an interview with Dutch broadcaster WNL on Sunday. Europe is not like the US. We can't afford here rates so high without damaging countries like Italy, Spain and Greece. That will go down badly imo
Source: Reuters - 🏆 2. / 97 Read more »
ECB set to raise rates by 50 bp in Feb and March, Knot says By Reuters*ECB MEMBER KNOT: EXPECT ECB TO RAISE INTEREST RATES BY 50BPS IN FEBRUARY AND MARCH - $EUR 🇪🇺🇪🇺 Source ? That's quite a significant ECB tightening. And who expects the Fed to be done in QT? The game is on. ❤️ Love
Source: Investingcom - 🏆 450. / 53 Read more »
ECB set to raise rates by 50 basis points in February and March, Knot saysThe European Central Bank (ECB) is set to raise interest rates by 50 basis points in both February and March and will continue to raise rates in the months after, ECB governing council member Klaas Knot said in an interview with Dutch broadcaster WNL on Sunday. Yes, one, maybe 2 more 50bps. Then step back and assess.
Source: Reuters - 🏆 2. / 97 Read more »
ECB's Knot: Set to raise rates by 0.5% in Feb and MarchReuters reported that the European Central Bank (ECB) is set to raise interest rates by 50 basis points in both February and March and will continue t
Source: FXStreetNews - 🏆 14. / 72 Read more »
EUR/USD bulls keep 1.0900 on radar amid hawkish ECB talks, US GDP eyedEUR/USD prints mild gains around 1.0865 during the three-day winning streak amid the early hours of Monday’s Asian session, following a two-week uptre
Source: FXStreetNews - 🏆 14. / 72 Read more »