(Bloomberg) — The dollar extended a decline, with a gauge of greenback strength hitting its lowest level since August, amid speculation the Federal Reserve is nearing the end of its rate-hike cycle.
Most Read from Bloomberg
Traders are currently pricing in about a 30% chance of a first Fed rate cut in March following cool inflation data last week. Investors are awaiting publication Tuesday of minutes of the last Fed rates meeting for further insight into policy makers’ thinking.
“The dovish Fed narrative remains in place,” said Win Thin, global head of currency strategy at Brown Brothers Harriman & Co. “There is likely to be ongoing downward pressure on US yields and the dollar.”
US equity futures were steady after a three-week rally that propelled the S&P 500 to an 11-week peak. Microsoft Corp. climbed as much as 2.7% in pre-market trading after hiring OpenAI co-founders Sam Altman and Greg Brockman to lead its in-house artificial intelligence team. Treasury yields ticked…
2023-11-20 07:34:24
Link from finance.yahoo.com
rnrn
(Bloomberg) — The dollar extended a decline, with a gauge of greenback strength hitting its lowest level since August, amid speculation the Federal Reserve is nearing the end of its rate-hike cycle.
Most Read from Bloomberg
Traders are currently pricing in about a 30% chance of a first Fed rate cut in March following cool inflation data last week. Investors are awaiting publication Tuesday of minutes of the last Fed rates meeting for further insight into policy makers’ thinking.
“The dovish Fed narrative remains in place,” said Win Thin, global head of currency strategy at Brown Brothers Harriman & Co. “There is likely to be ongoing downward pressure on US yields and the dollar.”
US equity futures were steady after a three-week rally that propelled the S&P 500 to an 11-week peak. Microsoft Corp. climbed as much as 2.7% in pre-market trading after hiring OpenAI co-founders Sam Altman and Greg Brockman to lead its in-house artificial intelligence team. Treasury yields ticked…
2023-11-20 07:34:24
Link from finance.yahoo.com
rnrn