The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency.
The U.S. dollar traded close to a three-month high against major peers on Thursday, underpinned by expectations for a slower pace interest rate cuts by the Federal Reserve and growing bets of a possible second Donald Trump presidency.
This week, Kansas City Fed President Jeffrey Schmid said he would prefer to "avoid outsized moves", and Philadelphia Fed President Patrick Harker backed "a slow, methodical approach" to further easing.
The dollar has now "punched through key technical resistance levels" against the yen, "opening the door for higher levels", Catril said.
Although opinion polls indicate a neck-and-neck race with Democratic rival, Vice President Kamala Harris, cryptocurrency-prediction exchange Polymarket has seen a sharp rise in bets for a Trump win.
Persons:
Donald Trump, Jeffrey Schmid, Patrick Harker, Rodrigo Catril, Catril, Trump, Kamala Harris, Christine Lagarde, Mario Centeno
Organizations:
U.S ., Federal Reserve, Kansas, Philadelphia Fed, Treasury, National Australia Bank, UST, Republican, Democratic, Trump, of, Traders, European Central Bank, Wednesday
Locations:
Japan, Sunday's