HomeFinancial MarketsDollar Rises for Fifth Straight Session

Dollar Rises for Fifth Straight Session

The U.S. dollar rose on Wednesday, marking its fifth consecutive daily rise. The greenback rose 0.6% against the yen to 151.70; a new four-month high, while the euro weakened against the dollar. This comes as investors await the Federal Reserve’s March policy meeting later in the day.

Following the influx of the latest round of economic data, the Fed has shifted its economic projections, which have involved a reduction in interest rate cuts for 2024 from three to two or a delay in the start of the rate-cutting agenda in June.

Due to mixed signals, investors have apparently become unsure of the Fed’s outlook, Mathieu Savary, Chief European Strategist at BCA Research observed. “The market is completely indecisive on the number of Fed rate cuts,” Savary explained, calling it “a complete coin toss” between two and three rate cuts.

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