Fx Signals News 06 03 2021 Dollar Rises
FxPremiere.com – The dollar is set for a second weekly gain after rallying on Friday.
“The USD appreciation potential remains limited for the time being […] as it is inflation that will determine when the US Federal Reserve will consider raising interest rates,” Commerzbank (DE:CBKG) said. “[It] is likely to be a long time before the Fed is satisfied with the inflation trend, which is why we do not forecast any interest rate hikes within our forecast horizon (i.e. until the end of 2022) and thus also no USD appreciation trend.”
Commerzbank’s remarks echoed that of the Fed chairman Jerome Powell who downplayed the risk of a sustained uptick in inflation, and reiterated that current monetary policy measures are appropriate.
“There’s good reason to think we’ll begin to make more progress.
At 3:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 91.760, a three-month high.
Fx Signals News 06 03 2021 Dollar Rises Forex Signals – Dollar Weakens Ahead of Sterling
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