SINGAPORE : The dollar was parked below recent peaks on Tuesday, as a three-week rally faded and traders waited on economic data to figure on whether it's warranted to push the dollar up any further.Strong U.S. labour data and sticky inflation have raised U.S. rate expectations and supported the dollar's
SINGAPORE : The dollar was parked below recent peaks on Tuesday, as a three-week rally faded and traders waited on economic data to figure on whether it's warranted to push the dollar up any further.
The U.S. dollar index has climbed three weeks in a row for a gain of about 1.7 per cent through February so far, but has steadied at 103.86, down from a six-week high of 104.67 hit on Friday. "I suspect that further significant dollar strength will require the Fed Funds futures market to start pricing in a 50 basis point rate hike in March," he said.
The New Zealand dollar held at $0.6259 ahead of a central bank meeting on Wednesday. Markets are pricing a 50 bp hike to bring New Zealand's benchmark interest rate to 4.75 per cent and are also weighing the economic impact of Cyclone Gabrielle.
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