The dollar extended gains against the yen and euro on Wednesday after Atlanta Federal Reserve President Dennis Lockhart expressed support for an interest rate hike in September.
The dollar nudged up 0.1% to 124.46 yen after pulling away from an overnight low of 123.80. The euro slid to a two-week low of US$1.0847.
Lockhart, a voter this year on the Federal Open Market Committee, told the Wall Street Journal that it would take "significant deterioration" in the US economy for him to not support a rate hike in September.
"Lockhart was not scheduled to speak until Monday (10 Aug), so the hawkishness of the comments, and the timing of the interview is surprising," wrote Richard Cochinos, head of Americas G10 FX strategy at Citi in New York.
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The dollar nudged up 0.1% to 124.46 yen after pulling away from an overnight low of 123.80. The euro slid to a two-week low of US$1.0847.
Lockhart, a voter this year on the Federal Open Market Committee, told the Wall Street Journal that it would take "significant deterioration" in the US economy for him to not support a rate hike in September.
"Lockhart was not scheduled to speak until Monday (10 Aug), so the hawkishness of the comments, and the timing of the interview is surprising," wrote Richard Cochinos, head of Americas G10 FX strategy at Citi in New York.
Click Here For Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance About KLSE online Feel Free To Mail Us at : info@epicresearch.my
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