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The US dollar advanced ahead of a Federal Reserve decision, while a Swedish central bank rate hike failed to lift the crown. Strategists cited weak risk sentiment, recession fears, a hawkish Fed and the war in Ukraine as supports for the dollar.
A firmer dollar ahead of a hawkish Fed keeps pressure on dollar-priced commodities and emerging-market currencies. The outlook points to continued pricing pressure on US export values.
reuters.comGertrude Chavez-DreyfussSep 20, 2022After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The dollar advanced ahead of the Fed decision on recession fears, hawkish Fed expectations and the Ukraine war, driving safe-haven demand early in the window.
