{"id":38111,"date":"2023-07-20T07:34:39","date_gmt":"2023-07-20T11:34:39","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/dollar-edges-lower-with-next-weeks-fed-meeting-in-focus\/"},"modified":"2023-07-20T07:34:40","modified_gmt":"2023-07-20T11:34:40","slug":"dollar-edges-lower-with-next-weeks-fed-meeting-in-focus","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=38111","title":{"rendered":"Dollar edges lower with next week’s Fed meeting in focus"},"content":{"rendered":"
\n

Investing.com – The U.S. dollar edged lower in early European hours Thursday as its rebound stalled, while the Australian dollar bounced on strong employment data and sterling remained weak.<\/p>\n

At 03:05 ET (07:05 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 99.900 but remained above Tuesday\u2019s 15-month low.<\/p>\n

Traders start positioning for next week\u2019s Fed meeting<\/strong><\/h2>\n

The dollar remains weak, but traders have begun squaring positions ahead of a meeting next week, with the central bank widely expected to raise rates by 25 basis points.<\/p>\n

That said, the focus remains largely on whether the Fed will signal an extended pause in its rate hike cycle, given recent softness in .<\/p>\n

The , and headline an otherwise sparse data calendar Thursday.<\/p>\n

Sterling continues to drop<\/strong><\/h2>\n

fell 0.2% to 1.2916, continuing to slump after Wednesday\u2019s 0.7% fall, following British inflation falling more than expected in June.<\/p>\n

The release hit market expectations of further aggressive rate hikes from the , with the prospect of Britain’s rates rising above 6%, from the current 5%, now likely off the table.<\/p>\n

Euro edges higher; uncertainty over ECB\u2019s September meeting<\/strong><\/h2>\n

rose 0.2% to 1.1217, after fell less than expected in June, adding to the uncertainty surrounding the European Central Bank\u2019s rate outlook.<\/p>\n

The is widely expected to increase interest rates once more when it meets next week, but policymakers have in recent days taken a more dovish tone about what will happen next.<\/p>\n

in the eurozone has almost halved, down to 5.5% in June from a peak of 10.6% last October, leading 35 of 75 economists polled by Reuters to predict no more hikes, while 40 economists now see another 25 basis point rise in September.<\/p>\n

Aussie surges on strong labor data<\/strong><\/h2>\n

rose 0.7% to 0.6820 after data showed Australia\u2019s labor market grew more than expected in June, with rising by 32,600 from May, exceeding market forecasts for an increase of 15,000.<\/p>\n

This week\u2019s suggested the central bank was still considering more and a robust jobs market could make such a move more likely.<\/p>\n

Elsewhere, fell 0.1% to 139.48 ahead of the \u2019s policy meeting next week, while fell 0.6% higher to 7.1851, following reports of government intervention to support the battered currency.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com – The U.S. dollar edged lower in early European hours Thursday as its rebound stalled, while the Australian dollar bounced on strong employment data and sterling remained weak. At 03:05 ET (07:05 GMT), the , which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 99.900 but remained above […]<\/p>\n","protected":false},"author":1,"featured_media":38112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-38111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nDollar edges lower with next week's Fed meeting in focus | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com - The U.S. dollar edged lower in early European hours Thursday as its rebound stalled, while the Australian dollar bounced on strong\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=38111\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar edges lower with next week's Fed meeting in focus | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com - 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