Dollar tiptoes higher for third day ahead of expected Fed hike 7:12am EST [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
Dollar tiptoes higher for third day ahead of expected Fed hike | Reuters 3 Min Read LONDON (Reuters) - The dollar edged higher for a third day before a widely expected U.S. interest rate hike next week, but its gains were limited by growing expectations that the Federal Reserve may express a more cautious view on future rate rises. The dollar has gained nearly 6 percent against a basket of currencies this year .DXY on the back of Fed rate increases, but a recent softening of U.S. Treasury yields and tepid data has led some to forecast a peak for the dollar. “We think the Fed may be inching closer to a wait-and-watch mode on the outlook for monetary policy,” said Manuel Oliveri, a currency strategist at Credit Agricole in London. “Even in recent episodes of market selloffs, the dollar hasn’t been gaining as much, indicating investors are cautious about pushing the greenback higher.” On Wednesday, the dollar was a touch higher at 97.40 but moves were tiny in rangebound markets. The euro
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