USD exchange rate today (October 4): The USD increased simultane
The USD continued to rise to its highest level since November 2022 against currencies, but fell sharply against the Japanese yen in the last trading session.
“US economic strength continues to surprise the market,” commented Ronald Temple, Chief Market Strategist at Lazard in New York. The Fed's rate hike cycle may be over, but positive economic data will likely pave the way for additional rate hikes.”
For example, positive data exceeding expectations in the US employment report last weekend could strengthen the stance of the US Federal Reserve (Fed) and boost the greenback. price increase. The currency is now heading for its 12th consecutive week of gains against other currencies.
“US economic strength continues to surprise the market,” commented Ronald Temple, Chief Market Strategist at Lazard in New York. The Fed's rate hike cycle may be over, but positive economic data will likely pave the way for additional rate hikes.”
For example, positive data exceeding expectations in the US employment report last weekend could strengthen the stance of the US Federal Reserve (Fed) and boost the greenback. price increase. The currency is now heading for its 12th consecutive week of gains against other currencies.
Comment:
According to CME Group's FedWatch Tool, traders are placing a 27.7% chance of another U.S. rate hike in November and a 46.3% chance of a rate hike in December. Futures are currently shows that the Fed's lending interest rate will remain above 5% until September 2024.
