The greenback rose against the yen and sterling and was steady on the euro.
The Australian dollar fell 1.2% overnight and on Thursday hovered at $0.6930, just above Wednesday’s one-week low of $0.6912 and the 50-day moving average at $0.6923.The New Zealand dollar also fell, losing nearly 1% to unwind an initial jump after the central bank hiked interest rates and steepened its projected rate-hike track.
“Once a sufficiently restrictive level has been reached, they are going to stick to that level for some time,” Rabobank strategist Philip Marey said in a note to clients.Traders see about a 36% chance of a third consecutive 75 basis point Federal Reserve rate hike in September, and expect rates to hit a peak around 3.7% by March, and to hover around there until later in 2023.
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Exclusive Networks Africa Empowers Women Across Communities & Within Business - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and ReportsGlobal cybersecurity specialist Exclusive Networks Africa believes the empowerment of women is a critical objective today, in both business and communities. Accordingly, the company was proud to play its part recently in support of women and children in the Thembisa area in Midrand, Gauteng, in partnership with The Love Trust and Literacy for Life. At […]
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