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Dollar falls as investors anticipate massive rate hikes from Investing.com


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By GinaLee

Investing.com – The dollar was down in Asia Tuesday morning, but moves were small. Investors are expecting further hikes of the same magnitude as the US Federal Reserve’s interest rate hike to 1%.

The rate, which tracks the greenback against a basket of other currencies, was down 0.05% to 103.632 by 23:36 ET (3:36 GMT). It rose to 104.19 overnight, a 20-year high.

The pair fell 0.05% to 130.19.

The pair was down 0.01% to 0.6955, the pair was up 0.02% to 0.6329.

The pair fell 0.17% to 6.7188. further tightens its lockdown measures as China reaffirms its zero-Covid policy.

The pair rose 0.23% to 1.2359.

Central banks have raised interest rates to tame inflation.

The Fed last Thursday made its first half-point rate hike since 2000. The Bank of England also raised its interest rate to 1% when making its monetary policy decision on the day, the highest since 2009.

They have climbed to the highest level since 2018 as investors expect the Fed to aggressively curb inflation.

With investors expecting more hikes of the same magnitude from the Fed, Atlanta Fed President Raphael Bostic said Monday he doesn’t see a 75 basis point rate hike, noting some signs of inflation cooling.

On the data front, investors are now awaiting Wednesday as well as those due Thursday.

Among cryptocurrencies, bitcoin fell below $30,000 for the first time since July 2021. It was later firmer at around $30,600.

https://www.investing.com/news/forex-news/dollar-down-investors-expect-massive-interest-rate-hikes-2821105 Dollar falls as investors anticipate massive rate hikes from Investing.com

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