The U.S. dollar clung to a two-and-half-month high on Tuesday on expectations the Federal Reserve will take a measured approach to interest rate cuts, while a close battle in the upcoming U.S. election kept investors on edge.
The U.S. dollar clung to a two-and-half-month high on Tuesday on expectations the Federal Reserve will take a measured approach to interest rate cuts, while a close battle in the upcoming U.S. election kept investors on edge.
Four Federal Reserve policymakers expressed support on Monday for further rate cuts, but appeared to differ on how fast or far they believe any cuts should go.
With the U.S. election just two weeks away, the rising odds of former President Donald Trump winning the Nov. 5 election are boosting the dollar, since his proposed tariff and tax policies are seen as likely to keep U.S. interest rates high.
The yen on Tuesday was at 150.57 per dollar, hovering close to the two-and-half-month low of 150.88.
Persons:
Goldman Sachs, Donald Trump, Harris, Komeito
Organizations:
U.S, Reserve, Fed ., Federal, Traders, Fed, Trump, PineBridge Investments, Liberal Democratic Party
Locations:
U.S, Treasuries