Hike bets hoist euro and bolster US dollar - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 31/08/2022 12.45.00
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The dollar was firm on Wednesday as stronger-than-expected US economic data and hawkish Federal Reserve comments pointed to higher interest rates, while rate-hike bets in Europe also have the common currency clinging on above parity.

German inflation running at its highest in nearly 50 years and a growing chorus of European Central Bank officials calling for big rate hikes has markets pricing a better-than-even chance of a 75 basis point rate hike next week.

Another month of manufacturing contraction is expected for August, with a reading of 49.2 forecast, marginally higher than the 49.0 reading in July.

Tulis Komentar

The dollar is enjoying the last days of glory before the world ditch it for better currency. Let the looters use this opportunity very well.

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