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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.
USD/JPY declines to near 146.50 as US Treasury Secretary Bessent stated that the BoJ would hike interest rates.
The U.S. dollar was under pressure on Thursday as traders piled into wagers that the Federal Reserve will resume cutting interest rates next month, powering Bitcoin to a record high, while a ...
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.
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