Dollar sturdy after Powell pushes back on aggressive easing bets

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TOKYO : The U.S.dollar firmed against its major peers on Tuesday after Federal Reserve Chair Jerome Powell pushed back against bets on more supersized interest rate cuts.

But Powell clearly thinks markets are overly excited" about upcoming cuts, said Matt Simpson, senior market analyst at City Index.

The euro traded not far from Monday's one-week low following a drop in German inflation to the lowest since early 2021, boosting speculation about another rate reduction this month.

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Category: EconomyBusiness

Markets: SingaporeAustraliaJapanMali

Topics: Interest Dollar Policy Data Powell Cuts Tuesday Month Monday Cent Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-01 @ 12:27:55 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 681 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22828777

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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