US Dollar Supported by Fed Tightening Expectations – ING
ING strategist Chris Turner notes that the US dollar remains supported as higher energy prices fuel expectations of further central bank tightening, with markets pricing more rate hikes from the ECB and BoE.
EURUSDGBPUSDUSD
The US dollar continues to find support from expectations of additional Federal Reserve tightening, according to ING strategist Chris Turner. Rising energy prices are a key driver, reinforcing the view that central banks will need to maintain a hawkish stance.
Markets are now pricing in further rate hikes not only from the Fed but also from the European Central Bank and the Bank of England. This repricing is providing a tailwind for the greenback as global monetary policy remains tight.
Source: FXStreet Forex News