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You are here: Home / Markets / Dollar strengthens with Fed seen continuing on rate-increase path

Dollar strengthens with Fed seen continuing on rate-increase path

November 9, 2018 thestar Leave a Comment

By Ira Iosebashvili The Wall Street Journal Fri., Nov. 9, 2018 The dollar rose Friday as expectations a strong U.S. economy will keep the Federal Reserve raising rates at a steady pace drew money into the U.S. currency. The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently up 0.3% at 90.62. A gauge of U.S. business prices rose in October at the fastest pace in nearly six years, suggesting inflation could be picking up steam after a summer slowdown. The producer-price index, a measure of the prices businesses receive for their goods and services, rose a seasonally adjusted 0.6% in October from a month earlier, the Labor Department said Friday. Strong U.S. data has bolstered the case for the Fed to continue on its current rate-raising trajectory. Expectations of rising borrowing costs make the U.S. currency more appealing to yield-seeking investors. The Fed held short-term interest rates steady Thursday and offered a mostly upbeat assessment of the U.S. economy, suggesting another rate increase is likely by year-end. Article Continued Below “We’re wary of selling the dollar too soon, because the Fed’s still hiking rates into a tightening labor market and trade tensions haven’t gone away,” wrote Kit Juckes, a strategist at Société Générale, in a note to clients. Report an error Journalistic Standards About Us TOP STORIES, DELIVERED TO YOUR INBOX. NEW NEWSLETTER HEADLINES SIGN UP




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Markets dollar strengthens against euro, dollar, index, Federal Reserve, rate, increase, stocks, economy, WSJ, The Wall Street Journal, smg_markets, smg2_wsj, Markets

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