Final hours! Save up to 50% OFF InvestingProCLAIM SALE

Dollar higher as March Fed hike odds jump on Fed speak

Published 2017-03-01, 02:44 a/m
EUR/USD
-
USD/JPY
-
AUD/USD
-
DX
-
US2YT=X
-

Investing.com - The dollar was higher Wednesday as a number of Fed members endorsed the idea of a rate hike in the short term.
The dollar index was up 0.38% at 101.71 at 02:30 ET. The euro was off 0.34% at $1.0541.
Investing.com's Fed Rate Monitor Tool showed the odds of a March hike at 62%.
That was up from some 22% the previous week. The yield on the 2-Year Treasury yield hit the 1.3% mark.
Fed member William Dudley said the case for tightening had become "a lot more compelling."
Fellow Fed member John Williams said a March hike was "on the table for serious consideration."
However, another Fed member, James Bullard, argued for a single rate hike this year as he highlighted the risks of "overkill."
President Trump's speech to Congress Tuesday, while seen as more conciliatory, was deemed short on policy details.
The dollar was up 0.75% at 113.60 yen. Strong China factory data buoyed expectations for global growth.
The Aussie was higher as Australian Q4 GDP grew 1.1% vs. estimate of 0.7%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.