Currency Buzz: Dollar Index Supported As Feds Waller Talks About 50 Basis Points Interest Rate Hikes

31 May 2022 , 12:34 PM

The US interest rate hike talks are back on the table and are keeping the US dollar supported today after it fell near one month low. The US Federal Reserve should be prepared to raise interest rates by a half percentage point at every meeting from now on until inflation is decisively bought under control, Fed Governor Christopher Waller said on Monday. Wallers comments came ahead of a meeting on Tuesday between Fed Chair Jerome Powell and US President Joe Biden for a discussion called by the White House on state of the American and global economy. Dollar index is up 0.47% at 101.77 right now. The rise in dollar index has dented the risk appetite somewhat in Asia though broad sentiments remain supported for equities given the reopening of Shanghai from Covid-19 induced lockdowns on Wednesday.Powered by Commodity Insights