Italian bonds appeared to brush off a decision by Moody's to lower Italy's ratings outlook. Įuro zone bond yields fell back down after having gained following the jobs data on Friday. The dollar was flat versus the yen, with the pair changing hands at 134.99. The New Zealand dollar was up 0.5% at $0.62725. The Australian dollar, which is seen as a proxy for risk appetite, recovered following Friday's losses, up 0.8% on the day at $0.6964. 'If you have both things (jobs growth and inflation) still running very very hot then it becomes very difficult, I think, to back away from another 75 basis point hike,' he said.Īs European stock indexes ticked higher, riskier currencies strengthened. High inflation combined with Friday's labour market reading could push the market to fully price in 75 basis points of Fed hikes for September, according to Tim Graf, head of EMEA macro strategy at State Street. Analysts polled by Reuters expect annual inflation to have eased to 8.7% in July from 9.1% previously. dollar to rebound further in the near-term, and have recommended a new long USD/CAD trade idea to reflect our bullish outlook for the U.S. economic data releases and hawkish comments from regional Fed presidents that have encouraged market participants to push back expectations for a dovish policy pivot from Fed,' wrote MUFG currency analysts Derek Halpenny and Lee Hardman in a note to clients. dollar has been supported by the combination of stronger U.S.

central bank should consider more 75 bps hikes at coming meetings to bring inflation back down. įed Governor Michelle Bowman said on Saturday that the U.S. Traders were pricing in a roughly 69% chance of the Fed raising rates by 75 basis points (bps) at its September meeting, according to Refinitiv data. read moreīut this move cooled on Monday, with the dollar index slipping to 106.51 by 1035 GMT, down 0.1% on the day, compared with Friday's 10-day high of 106.930. employment figures last week saw the dollar strengthen against major peers because the data was seen by traders as an indication that the Fed could raise interest rates more aggressively to combat inflation. jobs data, as currency markets pulled back on their initial reaction and waited for Wednesday's inflation data to give more clues about the Federal Reserve's next steps. Please verify/confirm currency rates with your forex broker or financial institution before making international money transfers and transactions.LONDON, Aug 8 (Reuters) - The dollar fell on Monday, losing some of the gains it had made from Friday's U.S.

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