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USD/CAD struggles near 1.3750 as Fed rate cut bets, Oil supports Canadian Dollar
US Treasury Secretary Scott Bessent said in an interview on Wednesday that short-term Fed interest rates should be 1.5-1.75% lower than the current benchmark rate at an effective 4.33%. Bessent added that there is a good chance that the central bank could opt for a 50 basis point rate cut in September.
Gold extended gains to a third session on Thursday, supported by rising expectations of an interest rate cut by the U.S.
Having said all that, today, dollar traders are likely to pay extra attention to the PPI data for July. A slowdown in ...
The dollar fell to its weakest level against the Japanese yen in three weeks after U.S. Treasury Secretary Scott Bessent said he expected the Bank of Japan to raise interest rates to tackle inflation.
Key Takeaways A relatively tame inflation report Tuesday boosted investors' hopes that the Federal Reserve will lower interest rates in September.Fed officials have kept rates high out of concern that ...
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