Key Points
SINGAPORE (Reuters) -The dollar rose on Tuesday as investors pared back bets on near-term rate-cuts by the U.S. Federal Reserve following hawkish comments from European Central Bank officials, while worries of more attacks on ships in the Red Sea weighed on risk sentiment...
Against a basket of currencies, the dollar rose about 0.3% to 102.94, after having gained 0.2% overnight in subdued trading during a U.S. public holiday on Monday.. The euro fell 0.3% to $1.0912, set for its steepest one-day percentage drop in two weeks..
Investors are now bracing for comments from the Federal Reserves Christopher Waller, whose dovish turn in late November helped to send markets soaring in a blistering year-end rally..
Markets are now pricing in a 66% chance of a 25 bps cut in March from the Fed, versus 77% a day earlier, and 63% a week earlier, the CME FedWatch Tool showed, highlighting the shifting expectations on rate cuts...
We think the market may have got ahead of itself pricing almost seven 25 bp cuts from the Fed this year, said Hamish Pepper, fixed income and currency strategist at Harbour Asset Management, adding the dollar is likely to find support if markets reassess easing expectations and push short-term interest rates higher...
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