FOREX TradingCharts.com

Forex News: U.S. Dollar Lower In Cautious Trade

U.S. Dollar Lower In Cautious Trade

06/20/2022 - 04:52:00 (RTTNews)

(RTTNews) - The U.S. dollar weakened against its major counterparts in the Asian session on Monday, on growing fears about a slowdown in the economy in the wake of sharper rate hikes by the U.S. Federal Reserve.

Federal Reserve Governor Christopher Waller said on Saturday that he would back another rate hike of 75 basis point at the meeting in July.

In an interview with CBS News over the weekend, Cleveland Fed President Loretta Mester said that it will take a couple of years for inflation to move down to the central bank's 2 percent target.

Market participants await Fed Chair Jerome Powell's testimony before the U.S. Congress on Wednesday and Thursday after recent inflation fears triggered a 75 basis point rate hike last week.

U.S. markets remain closed on account of Juneteenth National Independence Day.

The greenback edged down to 0.9643 against the franc and 1.0543 against the euro, off its prior highs of 0.9712 and 1.0472, respectively. If the dollar falls further, it may challenge support around 0.93 against the franc and 1.08 against the euro.

The greenback dropped to 1.2253 against the pound and 134.53 against the yen, pulling back from its previous high of 1.2199 and a 5-day high of 135.44, respectively. The greenback is seen finding support around 1.25 against the pound and 120.00 against the yen.

Reversing from its previous highs of 0.6915 against the aussie and 1.3036 against the loonie, the greenback declined to 0.6988 and 1.2986, respectively. The greenback is likely to find support around 0.72 against the aussie and 1.26 against the loonie.

The greenback reached as low as 0.6351 against the kiwi, down from a high of 0.6295 seen at 5 pm ET. On the downside, 0.66 is possibly seen as its next support level.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


U.S. Dollar Moves To The Downside After Seeing Early Strength (02 hr(s), 44 min(s), 23 sec(s) ago)
(RTTNews) - After seeing some strength earlier in the morning, the value of the U.S. dollar has tu ...Full Story»

U.S. Dollar Appreciates On Growth Worries (09 hr(s), 14 min(s), 23 sec(s) ago)
(RTTNews) - The U.S. dollar climbed against its most major counterparts in the European session on ...Full Story»

Australian Dollar Advances As China's Factory Activity Improves (15 hr(s), 53 min(s), 23 sec(s) ago)
(RTTNews) - The Australian dollar climbed against its most major counterparts in the Asian session ...Full Story»

U.S. Dollar Higher After Powell's Comments (06 hr(s), 14 min(s), 23 sec(s) ago)
(RTTNews) - The U.S. dollar appreciated against its most major rivals in the New York session on W ...Full Story»

Indian Rupee Hits Record Low Against U.S. Dollar (12 hr(s), 05 min(s), 23 sec(s) ago)
(RTTNews) - The Indian rupee drifted lower against the U.S. dollar in evening deals on Wednesday, ...Full Story»

Australian Dollar Falls; Yen Rises On Recession Concerns (14 hr(s), 26 min(s), 23 sec(s) ago)
(RTTNews) - The Australian dollar declined against its major counterparts in the Asian session on ...Full Story»

Dollar Little Changed After U.S. Consumer Confidence Index (09 hr(s), 05 min(s), 22 sec(s) ago)
(RTTNews) - U.S. consumer confidence index for June has been released at 10:00 am ET Tuesday. The ...Full Story»

Dollar Higher Ahead Of U.S. Consumer Confidence Index (09 hr(s), 14 min(s), 23 sec(s) ago)
(RTTNews) - U.S. consumer confidence index for June is due at 10:00 am ET Tuesday. Ahead of the da ...Full Story»

Search

FOREX NEWS

U.S. Dollar Moves To The Downside After Seeing Early Strength

06/30/2022 - 16:28 PM (RTTNews)
(RTTNews) - After seeing some strength earlier in the morning, the value of the U.S. dollar has tu ...Full Story>>

U.S. Dollar Appreciates On Growth Worries

06/30/2022 - 09:59 AM (RTTNews)
(RTTNews) - The U.S. dollar climbed against its most major counterparts in the European session on ...Full Story>>

Australian Dollar Advances As China's Factory Activity Improves

06/30/2022 - 03:19 AM (RTTNews)
(RTTNews) - The Australian dollar climbed against its most major counterparts in the Asian session ...Full Story>>

U.S. Dollar Higher After Powell's Comments

06/29/2022 - 12:57 PM (RTTNews)
(RTTNews) - The U.S. dollar appreciated against its most major rivals in the New York session on W ...Full Story>>

Indian Rupee Hits Record Low Against U.S. Dollar

06/29/2022 - 07:07 AM (RTTNews)
(RTTNews) - The Indian rupee drifted lower against the U.S. dollar in evening deals on Wednesday, ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.