Another positive day for the US dollar, strengthening by over 1% against the pound, euro and Australian dollar.
The expectation is that aggressive interest rate rises will continue. Three members of the US Federal Reserve were speaking yesterday. Charles Evans said he was nervous about going too fast on rate rises but expected 4.5-4.75% by spring 2023. Lisa Cook, a new member and the first black woman on the seven member board, was more hawkish in her determination to control “stubbornly and unacceptably high” inflation, as was Christopher Waller.
Later today we’ll hear the unemployment rate and non-farm payrolls for September. These are the level of data releases to move the market.
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USD/EUR past year
