On Friday, the dollar briefly hit 150 against the yen as 10-year Treasury yields passed 5%. Powell hints at more rate hikes.
EBC Forex Snapshot
20 Oct 2023
The dollar briefly touched the closely watched 150 level against the yen on Friday after the 10-year Treasury yields crossed 5%. Powell still left door open to more rate hikes as expected.
Speculators have almost doubled their bullish dollar positions against other G10 currencies month to the most in a year though money markets expect another pause at the Fed’s next meeting.
Sterling fell to two-week lows following a tumble in the GfK consumer confidence index while Swiss franc headed for its largest weekly gain in three months due to safe-haven demand.
|Citi (as of 9 Oct)||HSBC (as of 19 Oct)|
The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains unchanged.
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