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Will the Federal Reserve be the first mover?

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Will the Federal Reserve be the first mover?

The US Federal Reserve has currency traders betting that it will be leading the way when it comes to higher interest rates. This comes following comments from Fed Chair Janet Yellen about the fact that the US still needs accommodative monetary policy. Yellen also said that the country’s borrowing costs could rise sooner than expected. In June, Mario Draghi, European Central Bank President, slashed a key rate below zero, and the Bank of Japan is buying about 7 trillion yen, equivalent to £40.5 billion, of government debt a month to try to eradicate 15 years of deflation.

As a result, the US currency is making headway. This month, the dollar gained against nine of its Group of 10 peers. In fact, the Bloomberg Dollar Spot Index due to make its largest advance since January.

Head of Asia-Pacific markets strategy at Royal Bank of Scotland Group Greg Gibbs said that while a lot of experts are characterising Yellen’s message as dovish, this might not be the case. “We’re getting to the turning point for the dollar as we begin to see an upward creep in front-end yields.”

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Euro’s slide slows as French bond markets stabilise

The Euro was on track for a fifth consecutive weekly decline on Friday, although signs emerged that selling pressure was easing as France’s bond market stabilised and falling US Treasury yields tempered the Dollar’s rally.
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Pound dips as markets await Bailey’s rate clues

The British Pound edged lower against both the US Dollar and Euro on Thursday, as investors awaited a speech by Bank of England Governor Andrew Bailey that could provide clues about the central bank’s next interest rate decision.
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Dollar advances as oil tops $100 and Fed takes centre stage 

The US Dollar edged higher on Wednesday, supported by rising oil prices, as investors awaited the Federal Reserve’s meeting minutes and comments from policymakers for clues about the outlook for interest rates.
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Euro rout deepens as France’s fiscal risks intensify

The Euro fell sharply on Monday to a 17-month low as mounting fiscal concerns in France, coupled with a severe sell-off in the bond market, raised fears of contagion across the region.
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Greenback surges to 17-month high as bond selloff rattles Euro

The US Dollar was on track for a third consecutive weekly gain on Friday, supported by a global bond selloff fuelled by inflation concerns over higher oil prices and mounting worries about France’s fiscal position. Meanwhile, the Euro remained near a 17-month low.
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Dollar hits fresh three-month high as yields support greenback

The US Dollar climbed to a more than three-month high on Thursday, underpinned by a sustained rise in US Treasury yields. The increase in yields has been partly fuelled by concerns that the US-Israeli conflict with Iran could keep global price pressures elevated.
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deVere FX Queries

6th Floor, ABSA house,
Ebene Cybercity,
Mauritius,
J. Balcikonio str. 9,
LT- 08314, Vilnius,
Lithuania,

media contact

About

deVere Group – Foreign Exchange’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines.

Contact

Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Group – Foreign Exchange’s Head of Public Relations on [email protected] or call +44 2071220925.