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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    “Tough” comments on interest rates raise the dollar globally

    Rocky
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    • Post n°1

    “Tough” comments on interest rates raise the dollar globally Empty “Tough” comments on interest rates raise the dollar globally

    Post by Rocky Thu 28 Mar 2024, 7:14 am

    “Tough” comments on interest rates raise the dollar globally

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    Economy News - follow up
    The dollar received a boost against its major currency counterparts, during trading today, Thursday (March 28, 2024), as a Federal Reserve official said that they are not in a rush to lower interest rates amid stubborn inflation, at a time when traders are awaiting major economic data.
    Meanwhile, the yen maintained its position against the dollar after Japan's top monetary policy officials indicated on Wednesday that they were ready to intervene. The Japanese currency is still not far from the level of 152 against the dollar.
    Federal Reserve Governor Christopher Waller said that the latest inflation data, which was disappointing, confirms the need for the US central bank to refrain from reducing the target interest rate in the short term.
    The dollar index, which measures the performance of the US currency against major currencies, rose in the wake of Waller's comments and saw little change, settling at 104.41 points. It has increased about three percent so far this year.
    Waller's speech is "evidence that the Fed is more cautious about stubborn inflation and perhaps even accelerating price growth again," said Kyle Rodda, a financial markets analyst at Capital.com.
    Traders are awaiting key US inflation data to be released tomorrow, Friday, after a larger-than-expected jump in US durable goods orders on Tuesday, which has already strengthened the dollar against the yen.
    The dollar reached 151.975 yen yesterday, Wednesday, its highest level against the Japanese currency since mid-1990.
    But the yen rose slightly after the Japanese authorities held a meeting, on Wednesday, regarding the currency’s decline, and chief currency official Masato Kanda said that he “would not rule out taking any steps to respond to erratic movements in the foreign exchange market.”
    Finance Minister Shunichi Suzuki said authorities could take "decisive steps," language he has not used since Japan's last intervention in 2022.
    In one of the transactions, the yen reached 151.37 against the dollar.
    As for cryptocurrencies, Bitcoin rose in the latest trading by 1.14 percent to $69,648.86.


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