U.S. Dollar Drops Amid Risk Appetite
14 Outubro 2021 - 5:32AM
RTTF2
The U.S. dollar fell against its major counterparts in the
European session on Thursday amid risk appetite, as investors bet
on a steady recovery from the pandemic despite indications of
inflationary pressures.
The long term treasury yields were mostly down on expectations
for an imminent tapering announcement and the likelihood of an
earlier interest rate hike than projected.
Strong U.S. inflation data and hawkish Fed minutes prompted
investors to bring forward the expectations for a potential rate
hike to September 2022 from December 2022.
The minutes from the Fed's September policy meeting signaled
that the central bank could begin reducing asset purchases in
either mid-November or mid-December.
Investors reacted to Chinese inflation data showing that
factory-gate inflation spiked to the highest level in almost 26
years, boosted by soaring prices of raw materials.
Market participants are awaiting data on U.S. producer price
index and weekly jobless claims for more direction.
The greenback eased off to 113.28 against the yen, not far from
a 2-day low of 113.21 seen in the Asian session. If the currency
falls further, 110 is likely seen as its next support level.
The greenback depreciated to a 4-week low of 0.9194 against the
franc, 10-day low of 1.1624 against the euro and near a 3-week low
of 1.3734 against the pound, off its early highs of 0.9244, 1.1587
and 1.3653, respectively. The currency may face support around 0.90
against the franc, 1.18 against the euro and 1.39 against the
pound.
The greenback reversed from its early highs of 0.7371 against
the aussie, 1.2445 against the loonie and 0.6958 against the kiwi
and dropped to more than a 5-week low of 0.7420, more than 3-month
low of 1.2373 and more than a 2-week low of 0.7031, respectively.
The next possible support for the greenback is seen around 0.76
against the aussie, 1.22 against the loonie and 0.72 against the
kiwi.
Looking ahead, Canada manufacturing sales for August, U.S. PPI
for September and weekly jobless claims for the week ended October
9 are due in the New York session.
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