{"id":94412,"date":"2023-12-20T13:12:47","date_gmt":"2023-12-20T09:12:47","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=94412"},"modified":"2023-12-20T13:12:49","modified_gmt":"2023-12-20T09:12:49","slug":"dollar-continues-to-rise-amid-expectations-of-interest-rate-cuts","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/dollar-continues-to-rise-amid-expectations-of-interest-rate-cuts\/12\/20\/market-updates\/","title":{"rendered":"Dollar continues to rise amid expectations of interest rate cuts"},"content":{"rendered":"\n<p>On Wednesday, the dollar sustained an upward trend against a basket of peer currencies as traders assessed the possibility of the Federal Reserve implementing interest rate cuts.<\/p>\n\n\n\n<p>According to the CME Group&#8217;s FedWatch tool, investors are indicating a 69 percent probability of a rate cut occurring during the Federal Open Market Committee meeting in March, followed by a 63.3 percent chance of another cut in May.<\/p>\n\n\n\n<p>Atlanta Federal Reserve Bank President Raphael Bostic mentioned on Tuesday that he anticipates two interest rate cuts in the second half of the next year, emphasizing that there is &#8220;no urgency&#8221; at present. Thomas Barkin, President of the Federal Reserve Bank in Richmond, also noted that the economy&#8217;s performance will determine the feasibility of meeting expectations for interest rate reductions.<\/p>\n\n\n\n<p>The dollar index rose by 0.13 percent to 102.25 after experiencing a decline of more than 0.3 percent on Tuesday. It had touched a four-month low at 101.76 last week.<\/p>\n\n\n\n<p>In specific currency pairs:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The euro declined by 0.19 percent to $1.0958.<\/li><li>The British pound reached $1.2715 in recent trading.<\/li><li>The yen stabilized at 143.73 against the dollar after a previous dip to 144.95.<\/li><li>The Chinese yuan depreciated in foreign transactions against the US dollar to $7.1359.<\/li><li>The Australian dollar remained mostly flat at $0.6766, just below its recent five-month high of $0.6777.<\/li><li>The New Zealand dollar was recorded at $0.6276, after touching its highest levels since July 20 at $0.6282 earlier in the session.<\/li><\/ul>\n\n\n\n<p>In the cryptocurrency market, Bitcoin experienced a 1.6 percent increase, reaching $42,922.00.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, the dollar sustained an upward trend against a basket of peer currencies as traders assessed the possibility of the Federal Reserve implementing interest rate cuts. According to the CME Group&#8217;s FedWatch tool, investors are indicating a 69 percent probability of a rate cut occurring during the Federal Open Market Committee meeting in March, &hellip;<\/p>\n","protected":false},"author":9,"featured_media":94070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,36],"tags":[10792,8100,6923,6885,194,8499,9800],"class_list":["post-94412","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates","tag-austan-goolsbee","tag-christmas","tag-ecb","tag-fed","tag-gdp","tag-mester","tag-soft-landing"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=94412"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94412\/revisions"}],"predecessor-version":[{"id":94413,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/94412\/revisions\/94413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94070"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=94412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=94412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=94412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}