Dollar recovers, investors still expect rate hike schedule
The dollar recovered on Wednesday morning in Asia after recording losses for three consecutive days. Investors are still waiting for the United States’ inflation numbers for clues on the Federal Reserve’s interest rate hike schedule.
The U.S. Dollar Index Futures that measures the greenback against other major currencies jumped 0.08% to 94.032 by 11:54 PM ET (4:54 AM GMT).
The USD/JPY pair slid 0.02% to 112.82.
The AUD/USD pair shed 0.11% to 0.7367, while the NZD/USD pair declined 0.20% to 0.7111.
The USD/CNY pair tallied an increase of 0.03% to 6.3934, while the GBP/USD pair nudged 0.02% higher to 1.3557.
In the current discussion on the Federal Reserve’s interest rate hike timetable, St. Louis Fed President James Bullard has already suggested two rate increases in 2022.Meanwhile, San Francisco Fed President Mary Daly sees inflation easing next year.
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