©Reuters.
by Zhang Mengying
Investing.com — The dollar was modestly higher in Asia on Wednesday morning, with investors betting on the risk of a recession as major central banks hike interest rates.
which tracks the greenback against a basket of other currencies, was up 0.01% to 104.51 as of 01:15 ET (0515 GMT).
The pair closed at 136.10, down 0.02%.
The pair settled at 0.6906 and the pair rose 0.18% to 0.6252.
The pair was up 0.07% to hit 6.7030, while the pair was up 0.13% to hit 1.2198. E-bar for passengers arriving at centralized quarantine facilities within 14 days to 7 days. The move raised market expectations of another shift in China’s COVID-19 strategy that could cause less economic damage.
It is trading at around 3.17%, down more than 1 basis point.
European Central Bank (ECB) Governor Christine Lagarde fell 0.07% to 1.0511 after failing to provide fresh insight into the ECB’s rate growth path. The ECB could hike rates in July for the first time in ten years in a bid to control rising inflation.
Lagarde and Federal Reserve Chair Jerome Powell will address a panel discussion on stage later in the day.
Inflation worries are still on investors’ radars having fallen to a 16-month low in June as high inflation made consumers worried about a slowing economy.
“Recession risk will lower the DXY from time to time (but) the potential for a broader medium-term uptrend remains,” Westpac strategists wrote in a note to clients, referring to the dollar index they currently trade. Consider sticking to the 101 to 105 range. ,
“Until we get closer to the end of the Fed’s accelerated tightening cycle, the DXY is unlikely to peak,” the statement said.
New York Fed President John Williams and San Francisco-based Mary Daly said they needed to calm inflation but insisted a softer landing was still possible.
In Asia Pacific, on Thursday.
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