Currency Buzz: Dollar Holds Around 102 Mark, Fed Minutes Boost Rate Hike Narrative

26 May 2022 , 03:22 PM

The US dollar is holding around 102 mark, witnessing some buying after testing one month low earlier in the week as markets yet again focused on the US interest rates trajectory. The minutes of the last US monetary policy meeting have indicated that most participants judged that 50 basis point increases in the target range would likely be appropriate at the next couple of meetings. The minutes also noted that policy may have to move past neutral and into restrictive territory. All participants reaffirmed their strong commitment and determination to take the measures necessary to restore price stability. Powered by Commodity Insights