FXStreet (Edinburgh) – Lee Hardman, Currency Strategist at BTMU, still believes the Fed could hike in September.
Key Quotes
“The US dollar has continued to strengthen modestly in the Asian trading session with the dollar index rising above resistance from the highs from late May”.
“The US dollar is gradually regaining upward momentum ahead of the first Fed rate hike after temporarily correcting lower in Q2”.
“The US dollar has derived some modest support from the economic data releases from late last week which revealed further evidence that the US housing market is strengthening and core inflation is firming”.
“The improving economic data flow from the US is still leaving open the possibility that the Fed may begin to raise rates from as early as in September offering support for the US dollar”.
(Market News Provided by FXstreet)