Reuters
Dollar holds near multi-month high after Fed’s hawkish tilt
The dollar held near multi-month peaks against other major currencies on Monday, after the U.S. Federal Reserve surprised markets last week by signalling it would raise interest rates and end emergency bond-buying sooner than expected. The dollar index, which tracks the greenback against six major currencies, stood at 92.232 after gaining 1.9% last week, its biggest rise since March 2020. “Like many, I had expected the 61.8 Fibonacci retracement in the dollar index to hold for a bit … and at least see some consolidation,” said Chris Weston, the head of research at Pepperstone Markets Ltd, a foreign exchange broker based in Melbourne.
