Dollar rallied for the third day, especially after indications of a possible US interest rate hike the coming week. However, the possibility of a more cautious take on future rate hikes slowed it down.
The dollar gained 6% but the trend of US treasury yields have pulled down on expectations. It also suggests that the Fed could be on a wait-and-watch towards monetary policy outlook.
The dollar had touched higher at 97.40 earlier today.
Even as Street expects just one more rate hike in 2019, banks like JP Morgan (JPM) looks to at least four interest rate hikes in the coming year.
US inflation data also indicated that headline inflation forecast is at 2.2%, up from 2.1%.
The 10-year Treasury note yield rose to 2.886%, as it continued its ascent from recent lows.
Earlier today, US futures hinted at a higher open in the stock market after ending flat on Tuesday, on renewed optimism regarding the US-China trade deal talks.
We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips
Most Popular
Important takeaways from Paychex’s (PAYX) Q2 2025 earnings report
Paychex Inc. (NASDAQ: PAYX), a leading provider of human resources and payroll services, reported better-than-expected revenue and profit for the second quarter of fiscal 2025, sending the stock higher soon
Lamb Weston’s (LW) challenges may not end soon, a few points to note
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) turned red in mid-day trade on Friday. The stock has dropped 19% in the past one month. The company delivered disappointing results
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
