Dollar Index Reaches 100.50 Before Retreating
The Dollar Index peaked at 100.50 before retreating to 100.30 following the Bank of Japan's rate hike to 1.25%, a move that was contested by two board members and failed to strengthen the Yen. With futures suggesting a likely additional Fed hike in October, the Dollar's strength remains anchored by expectations of continued US monetary tightening relative to other major central banks.
GN auto markets/forex: dollar index highlights that the BoJ's 7-2 vote revealed internal dissent, with two members opposing the hike as core inflation slowed to 1.7% in August. The report further notes that futures markets are pricing in a 57.6% probability of another Federal Reserve rate increase on October 28.
Source: fxstreet.comThe Dollar Index hit 100.50, its highest since late July, before slipping to 100.30. The Bank of Japan raised rates to 1.25%, yet the Yen weakened.
Source: tmgm.com
