The dollar hit new 20-year high against the basket of major currencies in early Monday, driven by fresh demand on US interest rate outlook. The dollar index opened with gap higher on Monday and rose to the highest since June 2002, after Fed Chair Jerome Powell, in his speech in Jackson Hole symposium on Friday, […]
The post Dollar Index Hits New 20-Year High on Signal that Interest Rates Would Remain High for Some Time appeared first on Action Forex.
Switzerland’s economy maintained steady growth in Q4, with GDP expanding 0.5% qoq when adjusted for sporting events. Without the adjustment, GDP rose 0.2% qoq, in-line with expectations. Private consumption increased by 0.5%, supported by higher Read more…
USD/JPY is consolidating near 149.33 on Thursday, with the yen pausing its rally while holding near four-month highs against the USD. This stabilisation follows renewed support for the US dollar amid concerns that US President Read more…
As shown on the XAU/USD chart, the price of gold per ounce has already fallen by more than 1% today. This bearish sentiment may be driven by: → A strengthening US dollar, influenced by President Read more…