U.S Dollar Inches Up; Fed’s Williams’ Comments in Focus By Investing.com


© Reuters.

Investing.com – The U.S. dollar inched up on Friday in Asia even after Federal Reserve officials bolstered expectations of an aggressive rate cut this month.The that tracks the greenback against a basket of other currencies was up 0.1% to 96.507 by 1:20 AM ET (05:20 GMT).New York Federal Reserve President John Williams (NYSE:) said in a speech that the Fed will “act quickly” to support the economy as “it’s better to take preventative measures than to wait for disaster to unfold.”The New York Fed clarified later that Williams’ speech were not indicative of the central bank’s future moves, but investors still took his remarks as a dovish signal from the central bank.Separately, Fed Vice Chair Richard Clarida told Fox Business Network the central bank might have to act early and not wait “until things get so bad”.On the data front, business activity in the Mid-Atlantic has jumped to 21.8 in July, which is its strongest level in a year, according to the Philadelphia Federal Reserve.A figure above zero suggests the region’s business activity is growing.Meanwhile a separate report showed that while unemployment claims rose slightly last week, the labor market still remained strong. Initial jobless claims rose 8,000 to a seasonally adjusted 216,000 for the week ended July 13, the Labor Department said, while data for the prior week was revised down by 1,000.The pair was up 0.3% to 107.61.The pair and the pair both dropped 0.1%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here