The dollar hits new highs after the Fed

The dollar hits new highs after the Fed
The dollar hits new highs after the Fed

London (awp/afp) – The dollar hit new highs against other major currencies on Thursday, buoyed by further US Federal Reserve (Fed) rate hikes as central bankers met in Japan, in Switzerland and the United Kingdom.

Around 3:05 p.m. GMT (5:05 p.m. in Paris), the greenback rose again against the euro: it gained 0.24% to 0.9814 dollars, after climbing to 0.9809 dollars, a peak since October 2002.

The Fed raised rates by 0.75 percentage points, the third consecutive hike of this magnitude, and its chairman, Jerome Powell, showed determination to continue this rapid tightening to counter inflation.

“The rate hike was in line with what the market expected, but the future hikes implied by the Fed’s economic projections are faster than expected,” said UBS analyst Mark Haefele.

Conversely, in Japan, the central bank maintained its ultra-accommodating monetary policy. But the Japanese government claimed to have intervened in the foreign exchange market to support the yen.

The Japanese currency jumped 1.33% to 142.17 yen per dollar after sinking below the symbolic threshold of 145 yen for the first time since 1998.

The Swiss central bank, for its part, followed in the footsteps of the Fed by raising its rate by 0.75 points, on positive ground, but showed itself to be less determined for its next meetings. As a result, the Swiss franc fell 1.59% to 0.9821 Swiss francs to the dollar.

The Bank of England raised its rate by 0.5 points, a half-hearted measure which did not allow the pound to move away from its lowest since 1985 at 1.1212 dollar reached earlier in the year. the session.

The pound sterling yielded some 0.05% to 1.0183 dollars.

Finally, in Turkey, the central bank lowered rates for the second consecutive month, maintaining its unorthodox policy championed by Turkish President Recep Tayyip Erdogan despite inflation at 80.2% year on year in August according to official figures.

The Turkish lira fell 0.18% to 18.36 pounds to the dollar after sinking to an all-time low of 18.40 pounds.

        Cours de jeudi Cours de mercredi          15H05 GMT               21H00 GMT  EUR/USD 0,9814                  0,9837  EUR/JPY 139,53                  141,72  EUR/CHF 0,9638                  0,9507  EUR/GBP 0,8713                  0,8729  USD/JPY 142,17                  144,06  USD/CHF 0,9821                  0,9665  GBP/USD 1,1264                  1,1270  

afp/rp

The article is in French

Tags: dollar hits highs Fed

NEXT Friends For Life | The Journal of Quebec