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Dollar rose amid escalating escalation in the trade war

2019-08-06 04:17 pm | Resource: News | No Views : 80

 Dollar rose amid escalating escalation in the trade war

The Dollar rallied against its major counterparts on Tuesday as traders followed the escalating steps and reactions to US-China trade tensions.

Bullard of the Fed sees another cut in interest rates this year

James Bollard, chairman of the Federal Reserve Bank of St. Louis, told AFP on Tuesday. The US central bank will monitor the impact of trade war with China among other issues in monetary policy deliberations, but it can not "realistically move" its position "in a reciprocal strike environment. Pollard claimed borrowing costs" in the right neighborhood "after the first cut in ten and a half years last week.

A member who is eligible to vote this year at the FOMC has also revealed that his accounts are in line with another record benchmark move of 25 basis points by the end of the year. The target group for federal funds will fall by 1.75% to 2%.

Navarro: The Fed should cut interest rates by up to 100 points

Peter Navarro, director of trade policy and industry at the White House, told Fox News on Tuesday that the US Federal Reserve should reduce borrowing costs to be "compatible" with other major central banks. Policy makers called for the index to be cut by at least 75 basis points before the end of the year or even a full percentage point. The benchmark movement has been 25 basis points since December 2015, when the Fed started walking before reducing the scale last week for the first time in almost 11 years.

Main currency trades
  • The dollar rose to 1.1199 against the euro.
  • The greenback rose to 0.9778 against the Swiss franc.
  • The greenback was up against the yen at 0.44% to trade at 109.55 against the yen.
  • Against the yen, the pound was up 0.52%, trading against 129.29 yen.


Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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