Buy
Sell
Name Symbol Market Type
Euro vs United States Dollar FX:EURUSD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.00911 -0.83% 1.09215 1.09214 1.09216 1.10265 1.08859 1.10134 0 18:44:32

U.S. Dollar Dips As Fed Chair Powell Hints At Smaller Rate Hikes

01/12/2022 8:18am

RTTF2


Euro vs US Dollar (FX:EURUSD)
Forex Chart


From Nov 2022 to Feb 2023

Click Here for more Euro vs US Dollar Charts.

The U.S. dollar weakened against its major rivals in the European session on Thursday, following Federal Reserve Chair Jerome Powell's comments indicating a slower pace of rate hikes from this month.

Powell said that the central bank may decelerate the size of rate hikes when it meets later this month.

It would be appropriate to moderate the pace of rate increases as the central bank had approached the level of restraint to bring inflation down, Powell said in a speech at the Brookings Institution in Washington.

Markets now expect a 50 basis point rate hike at the meeting to be held on December 13-14.

The benchmark yield on the 10-year treasury note fell to 3.605 percent. Yields move inversely to bond prices.

The greenback dropped to 3-day lows of 0.9413 against the franc and 1.0464 against the euro, after rising to 0.9461 and 1.0393, respectively in early deals. The greenback is likely to find support around 0.92 against the franc and 1.06 against the euro.

The greenback was lower against the pound, at a 3-1/2-month low of 1.2163. The currency may challenge support around the 1.27 region, if it drops again.

The greenback touched 1.3395 against the loonie, its lowest level in three days. The greenback is seen finding support around the 1.30 level.

The greenback fell to a 3-1/2-month low of 0.6353 against the kiwi and a 2-1/2-month low of 0.6840 against the aussie, from its prior highs of 0.6288 and 0.6781, respectively. The next possible support for the currency is seen around 0.66 against the kiwi and 0.70 against the aussie.

The USD/JPY pair hit more than a 3-month low of 135.83. Next key support for the greenback is possibly seen around the 132.00 level.

U.S. weekly jobless claims for the week ended November 26, ISM manufacturing index for November and personal income and spending data and construction spending for October will be out in the New York session.

1 Year Euro vs US Dollar Chart

1 Year Euro vs US Dollar Chart

1 Month Euro vs US Dollar Chart

1 Month Euro vs US Dollar Chart
Your Recent History
FX
EURUSD
Euro vs US..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20230202 18:59:36