Dollar weakens, investors look for hints on Fed taper’s timeline

13.08.2021 - Korneychuk Evgeniya
Dollar weakens, investors look for hints on Fed taper’s timeline

The dollar performed poorly on Friday morning in Asia but hovered close to a four-month high. Meanwhile, investors remain in anticipation of the United States’ Federal Reserve’s timeline for its asset tapering and interest rate hikes.

The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.08% crash to 92.968 by 11:27 PM ET (3:27 AM GMT).

The USD/JPY pair gained 0.02% to 110.41.

The AUD/USD pair jumped 0.10% to 0.7341, while the NZD/USD pair climbed 0.09% to 0.7006.

The USD/CNY pair remained at 6.4783, and the GBP/USD pair increased 0.04% to 1.3810.

Meanwhile, hopes are up on an asset tapering announcement by the end of June despite Fed Chairman Jerome Powell’s most recent dovish comments.

The consumer price index released this week that showed a peak in inflationary pressures was seen to push the Fed to start reducing its bond purchases. 

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?