SINGAPORE : The dollar held its ground on Monday but was still near multi-week lows against some of its major peers as traders were on guard ahead of central bank meetings this week, including the Federal Reserve's where it will announce its rates decision.The U.S. currency was pinned near a one-month low
SINGAPORE : The dollar held its ground on Monday but was still near multi-week lows against some of its major peers as traders were on guard ahead of central bank meetings this week, including the Federal Reserve's where it will announce its rates decision.
"Given the event risks ahead of us, market activity is likely to be relatively muted today," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets. Conversely, a clear majority of economists polled by Reuters expects the ECB to hike its key interest rate by 25 basis points this week and again in July, before pausing for the rest of the year as inflation remains sticky.
"Central banks have raised rates aggressively over the past 12-15 months and given the lagged effects with which monetary policy affects demand, are central banks teeing up for a pause, following the RBNZ's example?"
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