The dollar is near the highest price in a year

The dollar is near the highest price in a year
The dollar is near the highest price in a year

The dollar remained near a year’s peak against major currencies on Wednesday, amid growing expectations that the US Federal Reserve will announce a stimulus cut next month and a possible rate hike by mid-2022.
Three policymakers at the Fed, including Vice Chairman Richard Clarida, said on Tuesday that the US economy has recovered enough to scale back the central bank’s asset-buying program.

The dollar index, which measures the performance of the US currency against 6 competing currencies, fell slightly to 94.356 from Tuesday’s level when it touched 94.563 for the first time since late September 2020.

Rising energy prices fueled inflation fears and boosted bets that the Fed would move faster than officials expected to return to normal policy, sending two-year Treasury yields to the highest level in more than 18 months overnight.

Higher yields helped push the dollar to a 3-year high against the yen yesterday at 113,785 yen. The two currencies were traded in the latest transactions at 113,575.

The euro traded at $1.1551 close to the previous session’s price of $1.1522, the lowest in about 15 months.

Sterling has moved in the middle of this month’s range, trading just over Tuesday’s level of $1.3624.

The risk-sensitive Australian dollar settled at $0.7347, down from a one-month peak recorded yesterday at $0.7384.

Bitcoin traded around $54,765, after hitting a 5-month high at 57,855.79 two days ago.


dollar highest price year

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