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Investing.com - The dollar held onto gains against the other major currencies in subdued trade on Tuesday, as the greenback recovered from comments by a Federal Reserve official on Monday sparking fresh uncertainty over the timing of future U.S. rate hikes.The dollar initially came under pressure after Fed Governor Lael Brainard warned against raising interest rates too quickly.In a speech on Monday, Brainard says economic progress continues in the U.S., but the Fed would be wise to continue kee…
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Dollar edges higher despite rate hike uncertainty
The dollar edged higher against the other major currencies on Tuesday, even as comments by a Federal Reserve official on Monday sparked fresh uncertainty over the timing of future U.S. rate hikes.The dollar came under pressure after Fed Governor Lael Brainard warned against raising interest rates too quickly.In a speech on Monday, Brainard says economic progress continues in the U.S., but the Fed would be wise to continue keeping policy loose.The comments came after Boston Fed President Eric Ros…
AUD/USD Sets Up For A Short Squeeze
The Australian dollar has been one of the strong beneficiaries of the sentiment swing against the greenback over the past week. Subsequently, the AUD has been rampantly bullish which has seen its price action rallying within an ascending channel.However, overnight the pair has pulled back relatively sharply from a weekly high and might just be setting up for a short squeeze back towards the lower channel constraint in the coming days.A quick review of the pair’s charts demonstrate some interesti…
In An Otherwise Uneventful FX Market, GBP Slips To 4
In an otherwise uneventful foreign exchange market,sterling's slide for its fifth consecutive session is the highlight. It was pushed below $1.30 for the first time since July 12. Initial resistance for the North American session is seen near $1.3020, while the $1.2960 area corresponds to a minor retracement objective.Sterling has been sold-off since the middle of last week.Today's data may have simply provided a little more ammo for what the market was already doing. .There were three reports t…
USD UPDATE.
The dollar moved lower against the other major currencies on Tuesday, as markets digested last week’s strong U.S. employment data and investors turned their attention to upcoming central bank meetings amid growing expectations for additional stimulus measures.GBP/USD rallied 1.29% to 1.3163, pulling back from the post-Brexit 31-year low of 1.2794 set last Wednesday.The pound strengthened as …