Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Indices  >  US Dollar Index       

US DOLLAR INDEX

My previous session
Most popular
SummaryChartsNews 
News SummaryAll newsMarketScreener Strategies
The feature you requested does not exist. However, we suggest the following feature:

CURRENCIES : Dollar Pares Post-Fed Losses

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/21/2019 | 07:40am EDT

By Anneken Tappe, MarketWatch

Norges Bank raises rates, Bank of England policy decision at 8 a.m. Eastern

The U.S. dollar climbed in early Thursday trading, retracing some of its losses from the previous session that it incurred after the Federal Reserve reiterated its dovish monetary policy stance.

The U.S. central bank cut its expectations for 2019 interest-rate increases from two to zero, downgraded its economic outlook as Chairman Jerome Powell stressed that it was a "great time" to be patient. The greenback, measured by the ICE U.S. Dollar Index , in response fell 0.7% and recorded its worst one-day percentage drop since Jan. 25 on Wednesday, according to FactSet.

In early Thursday trading, the gauge was up 0.5% at 96.196.

"The Fed's second dovish surprise in a row was meant to calm markets. However, we think it will likely do just the opposite," said Win Thin, global head of currency strategy at Brown Brothers Harriman. "Markets often need to see confidence emanating from policy makers to feel confident as well. How can the Fed justify moving from "a long way from neutral" back in the fall to the current stance that rates may go up or down? We simply do not believe the fundamental picture has changed that much."

Still, for now, interest rate differentials still favor the dollar, Thin said. The Fed pressing pause didn't make other central banks' rates go up. The European Central Bank and Bank of Japan are still at their post-financial crisis lows, for example.

Elsewhere, Norway's central bank raised its key interest rate to 1% from 0.75% before, as expected. The Norwegian krone climbed to its best level in six-weeks in response, with one dollar buying 8.4500 krone, down 0.6%.

In other central bank news, the Bank of England is due for its monetary policy update at 8 a.m. Eastern, with no expectations of a change in rates. Indeed, the BOE will likely reiterate its stance that the Brexit uncertainty leaves it in an odd place.

The British pound was weaker at $1.3136, compared with $1.3194 late Wednesday, ahead of the policy update.

On Brexit, things are as confusing as before, with the U.K. is still set to leave the European Union in eight days and has no deal in place. A two-day summit of EU leaders in Brussels will tackle U.K. Prime Minister Theresa May's request for a three-month delay to the deadline. May wants to put her deal, or an amended version of it, to a vote for a third time next week.

Brexit Brief:EU tells Theresa May -- it's deal, or no deal

The euro pared some of the last session's gains and slipped to $1.1392 from $1.1415, largely driven by the swing in the dollar.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on US DOLLAR INDEX
07:40aCURRENCIES : Dollar Pares Post-Fed Losses
DJ
07:02aNorwegian crown surges as central bank signals rates to rise again
RE
05:56aGlobal Stocks Pause as Markets Parse Fed Outlook
DJ
03/20World shares dip in wobbly session; pound slides, oil jumps
RE
03/20World shares dip in wobbly session; pound slides, oil jumps
RE
03/20WALL STREET STOCK EXCHANGE : Stocks Slip After Fed Decision, Erasing Earlier Gai..
DJ
03/20WALL STREET STOCK EXCHANGE : Stocks Slip After Fed Decision, Erasing Earlier Gai..
DJ
03/20WALL STREET STOCK EXCHANGE : Stocks Waver After Fed Decision, Erasing Earlier Ga..
DJ
03/20Gold Reverses Losses After Fed Decision
DJ
03/20CURRENCIES : Dollar Index Drops To Six-week Low As Fed Delivers Dovish Message
DJ
More news
Chart US DOLLAR INDEX
Duration : Period :
US Dollar Index Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends US DOLLAR INDEX
Short TermMid-TermLong Term
TrendsBearishNeutralBullish