NEW YORK (ANTARA) – The U.S. dollar slipped Thursday night in volatile trade as traders awaited Federal Reserve Chairman Jerome Powell’s speech on Friday for further clues on the pace of interest rate hikes. interest of the US central bank in the future.
The dollar index, which measures the greenback against a basket of six major rivals, fell 0.19% to 108.4670. The index is holding slightly below a 20-year high of 109.29 reached on July 14.
At the close of trade in New York, the euro was up at US$0.9973 from US$0.9965 in the previous session, and the pound was up at US$1.1828 from 1.1788. US dollar in the previous session. The Australian dollar fell from 0.6906 US dollars to 0.6978 US dollars.
The US dollar bought 136.46 Japanese yen, lower than 137.09 Japanese yen in the previous session. The US dollar fell to 0.9635 Swiss francs from 0.9670 Swiss francs and fell to 1.2937 Canadian dollars from 1.2976 Canadian dollars.
Fed Chairman Jerome Powell is set to speak at a central bank symposium in Jackson Hole on Friday and traders will be watching him for clues on the Fed’s future interest rate path.
Investors wavered between a possible 50 or 75 basis point rate hike at the September meeting as the Fed battles inflation while dealing with weaker U.S. economic data.
“We believe the outlook is still too uncertain for the Fed to adopt policy, as the recent encouraging trend in the data may not hold over the medium term,” Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a statement. analysis. Thursday Thursday (8/25/2022).
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