Page 40 - Us Fed News Today

The ringgit is likely to stay in a tight range between RM4.63 and RM4.65 against the US dollar this week amid cautious market sentiment.

India finds itself at a critical point as its interest rate differential with the US has notably narrowed (see Figures 1 & 2 wherein government bond yields have been used as proxies for interest rates). This tight spot has left the Reserve Bank of India (RBI) facing a tough decision - whether to align with global peers and raise its repo rate or opt for a differing path

The US, like much of the western world, has been battling very high inflation. In a period of 12 months ending June, inflation as measured by the personal consumption expenditures (PCE) price index, excluding food and energy items, stood at 4.1%.

U.S. Federal Reserve Chairman Jerome Powell says the central bank is "prepared" to raise interest rates further as necessary to contain stubborn inflation.

No at US Fed, ECB for changing 2pc inflation goal

‘The US Fed is completely focused on bringing the inflation rates to their tolerance limit of 2% and if they see their targets getting breached, they will hike the rates further.

The rupee may be allowed to slowly weaken towards 84 in the next six months if the current situation of dollar strength and CNH weakness persists, said the treasury head and executive director of Finrex Treasury Advisors

Jackson Hole meeting: The Fed chief is unlikely to indicate that the rate hiking cycle is coming to an end, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Dollar index rose as traders bet that US federal reserve chairman Jerome Powell would confirm expectations of higher for longer rates in his speech at Jackson Hole later on Friday

KUALA LUMPUR: The ringgit opened higher against major currencies, except the US dollar this morning, said an analyst.