The dollar is still enjoying its interest rate boost, prompted by Federal Reserve Chair Jerome Powell’s hawkish comments on interest rates. Two days after hiking rates by another 75 basis points to 4% he said it was “very premature” to be considering a pause in rapid rate rises.
Powell’s comments may have hit stocks but they sent the dollar higher.
Despite making few gains yesterday other than against sterling, the US dollar approaches the end of the week ahead of most of its major rivals, including 3.5% up on sterling and almost 2% up on the euro.
This afternoon there will be non-farm payrolls, which are expected to fall from last month to around 200,000 new jobs. If it happens it will be the weakest reading since December 2020.
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USD/EUR past year
