The U.S. dollar was perched at an over two-month high against major currencies on Tuesday, spurred by wagers the Federal Reserve will proceed with modest...
SINGAPORE - The U.S. dollar was perched at an over two-month high against major currencies on Tuesday, spurred by wagers the Federal Reserve will proceed with modest rate cuts in the near term, while the yen inched closer to the key 150 per dollar level.
The U.S. central bank kicked off its easing cycle with an aggressive 50 basis points at its last policy meeting in September. Traders are now ascribing 89% chance of a 25 bps cut in November, with 45 bps of easing priced in for the year. "Whatever happens in the near term, my baseline still calls for reducing the policy rate gradually over the next year," Waller said.
The dollar's rise in the past few weeks has pushed the yen lower, especially after a dovish shift in rhetoric from Bank of Japan Governor Kazuo Ueda and surprising opposition to further rate hikes by new Prime Minister Shigeru Ishiba.The yen last fetched 149.55 per dollar in early trading, having touched a 2-1/2 month high of 149.98 on Monday when Japan was closed for a holiday. It last hit the 150 level on Aug. 1.
Christopher Waller Rate Cuts Federal Reserve
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Milton Knocks Out Power To Millions, Spawns 150 Tornadoes Across FloridaDamage was widespread, and water levels may continue to rise for days, but Gov. Ron DeSantis said it was not “the worst-case scenario.”
Read more »
Edmunds electric truck face-off: Ford F-150 Lightning vs. Tesla CybertruckWhich is the better all-around truck, the Ford F-150 Lightning or Tesla Cybertruck? Edmunds’ car experts tested them to find out.
Read more »
Hurricane Helene's death toll passes 150 as crews search for survivorsCadaver dogs and search crews trudged through knee-deep muck and debris in the mountains of western North Carolina on Tuesday looking for victims of Hurricane Helene, days after the storm carved a deadly and destructive path through the Southeast.
Read more »
Edmunds electric truck face-off: Ford F-150 Lightning vs. Tesla CybertruckThe Ford F-150 Lightning and Tesla Cybertruck are two intriguing options for someone thinking about buying an electric pickup truck. They could also hardly be more different. The Lightning looks and drives much like a traditional gas-powered F-150.
Read more »
Hurricane Helene’s Death Toll Passes 150 As Crews Search For SurvivorsExhausted emergency crews worked around the clock to clear roads, restore power and phone service, and reach those still stranded by the storm.
Read more »
Toronto is getting a holiday-themed night market with three bars and 150 vendorsA former Toronto LCBO location is transforming into a holiday spectacle for three nights next month. The Night Market is set to return, offering fest…
Read more »