Greenback is poised for weekly drops after Fed disappoints bulls

Greenback is poised for weekly drops after Fed disappoints bulls

On Friday, the evergreen buck licked its wounds in Asia trade, wallowing at five-week minimums against a currency basket and staying on track for weekly losses after the Fed signaled fewer interest rate lifts than some market participants had expected.

In spite of the fact, on Wednesday, the major US bank delivered an interest rate lift as broadly anticipated, it didn’t alter its earlier forecast for a total of three rate lifts in 2017.

It disappointed greenback bulls who had hoped for hints of a probable fourth lift in 2017.

The dollar index, gauging the greenback against a basket of six crucial counterparts, slid 0.1% to 100.26, having tumbled to 100.21 overnight, its lowest outcome since February 9. For the week it lost 1%.

Against the Japanese yen, the greenback slid 0.1%, hitting 113.44, descending 1.2% for the week ahead of Monday’s Tokyo public holiday.

The Japanese yen gained notwithstanding steeply diverging monetary policy expectations.

usd

Similar

USD/MXN: optimistic on the vaccine coming?
USD/MXN: optimistic on the vaccine coming?

During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?

Latest news

Risk on is back on market
Risk on is back on market

The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera