Cautious Fed pins US dollar to 2-week low; euro rises
London
THE dollar struggled near a two-week low on Thursday as minutes of the last US Federal Reserve meeting raised expectations that future interest rate increases would be limited after policymakers revealed a more cautious outlook towards inflation.
"It is no longer about the timing of the next rate hike or about the subsequent ones but about what the terminal rate for the US Federal Reserve would be and that expectation is becoming lower by the day," said Edward Hardy, a corporate market analyst at Worldfirst, an FX consultancy, in London.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results