Strong US economic data boosts dollar

MG News | February 20, 2023 at 10:59 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

February 20, 2023 (MLN): Strong US economic data has supported the dollar, causing traders to bet that the Federal Reserve will keep its monetary policy tightening path for longer than expected, as Reuters reported.

The greenback has risen slightly against most major currencies in Asia trade, while the US dollar index is up almost 2% for the month so far.

Markets are expecting the Fed funds rate to peak at just under 5.3% by July, while hawkish comments from Fed officials have also helped support the US dollar.

In Europe, two ECB policymakers have said interest rates still have some way to rise, but this has done little to lift the euro, which was down 0.08% at $1.06855.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	177,370.71 271.87M	0.23% 404.02
ALLSHR	107,716.20 642.21M	0.11% 116.44
KSE30	52,827.24 82.38M	0.35% 182.71
KMI30	251,579.93 132.42M	0.03% 64.11
KMIALLSHR	69,528.14 417.99M	0.00% 2.11
BKTi	50,313.91 13.15M	1.11% 551.71
OGTi	36,509.94 8.96M	-0.87% -321.36

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,085.00	79,360.00 78,140.00	75.00 0.09%
BRENT CRUDE	86.91	87.15 86.05	-1.67 -1.89%
RICHARDS BAY COAL MONTHLY	110.30	0.00 0.00	0.20 0.18%
ROTTERDAM COAL MONTHLY	124.80	124.80 124.80	0.30 0.24%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	80.79	81.31 80.08	-1.57 -1.91%
SUGAR #11 WORLD	17.25	17.74 17.13	-0.40 -2.27%