The U.S. Fed's smaller rate hike brings dollar strength closer to its end
Publishing timestamp: 2023-02-02 04:44:18
Summary
The US dollar index (DXY) fell 0.3% during Asia's morning session to 100.91, its lowest level since April 2022. Asian currencies saw relative strengthening with the move, with the Japanese yen strengthening by 0.4% and the Korean won strengthening by 0.3%. Stephanie Holtze-Jen, Deutsche Bank International Private Bank's Asia-Pacific chief investment officer, said the "relentless dollar strength" will come to an end. Steven Englander, Standard Chartered Bank's managing director, said Friday's jobs data will be in focus for the dollar index, and if the numbers continue to support the narrative, there is still room for the dollar to fall.
Sentiment: NEUTRAL
Tickers: .DXY, KRW=, CNY=, JPY=,
Keywords: usd/jpy, central banking, interest rates, jerome powell, inflation, economy, us dollar/chinese renminbi fx spot rate, currency markets, us dollar/korean won fx spot rate, economic events, world economy, business news, dxy us dollar currency index, asia economy, u.s. economy,
Source: https://www.cnbc.com/2023/02/02/-us-dollar-strength-nears-end.html