U.S. Dollar Unchanged; Trump Says Fed Officials “Don’t have a clue” By Investing.com


© Reuters.

Investing.com – The was unchanged on Wednesday in Asia after U.S. President Donald Trump said the officials of the Federal Reserve “don’t have a clue” on rates.

Overnight, Trump tweeted that the euro and other currencies are undervalued against the dollar, “putting the U.S. at a big disadvantage. The Fed Interest rate way too high, added to ridiculous quantitative tightening! They don’t have a clue!”’

Trump also said in a separate tweet that the U.S. has low inflation, calling it “a beautiful thing.”

The U.S. dollar index that tracks the greenback against a basket of other currencies was unchanged at 96.645 by 11:45 PM ET (03:45 GMT).

Traders have been speculating on the possibility of the central bank cutting rates this year due to slowing inflation and rising trade tensions after Fed Chair Jerome Powell signalled the bank would “act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2% objective.”

The Fed will hold its next policy meeting on June 18-19 and is expected to keep rates unchanged.

The pair was up 0.07% to 6.9154. Citing unnamed traders, Reuters reported that the People’s Bank of China will inject 35 billion yuan ($5.06 billion) through open market operations on Wednesday.

The central bank is injecting 15 billion yuan through seven-day reverse bond repurchase agreements and 20 billion yuan through 28-day reverse repos, according to the report.

The pair was down 0.02% to 108.46.

The pair and the pair were both down 0.2%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *