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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