Daily dollar outlook: US Dollar and Eurozone fall to match Sterling

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/05/US-dollar-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/05/US-dollar-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/05/US-dollar-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/05/US-dollar-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/05/US-dollar-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/05/US-dollar-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/05/US-dollar-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/05/US-dollar.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>Analysts have been employing a CME FedWatch tool and predict a 16% chance of another interest hike by January, and a 21% chance of rate cuts as early as March. The US dollar index, which recently experienced its sharpest weekly decline in four months, rose by 0.2% to reach 105.73, on track for a weekly gain.</p>
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<p>Key factors contributing to this dollar rebound are the hawkish comments made by Fed policymakers, attempting to counteract dovish rate expectations. Jerome Powell, Chair of the US Federal Reserve, will deliver his now eagerly awaited speech later this week.</p>
<p>The Euro’s standing weakened by 0.2% to $1.0674, influenced by a dimming growth outlook in the eurozone. German industrial production figures for September also fell beyond expectations, bringing concerns of a potential eurozone recession to match the unrecovered UK economy.</p>
<p>The British pound, which hit a seven-week high against the <a href="https://www.leaprate.com/forex/data/us-dollar-pulls-back-after-rocky-week-outlook/" target="_blank" rel="noopener">dollar</a> earlier this week, fell by 0.2% to $1.2264. Meanwhile, the Japanese yen edged closer to 150 per dollar, raising concerns about potential currency intervention. On the other hand, the Australian dollar remained relatively stable at $0.6438 after experiencing its largest daily decline in approximately a month.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/market-news/daily-dollar-outlook-us-dollar-and-eurozone-fall-to-match-sterling/">Daily dollar outlook: US Dollar and Eurozone fall to match Sterling</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>