In the Asian session on Thursday (June 8), the U.S. dollar index fell back from a high, and the latest price of the U.S. dollar was 104.02, a decrease of 0.10%. The Fed is expected to hold rates steady next Wednesday to assess the impact of recent rate hikes, but fed funds futures traders expect a hike in July.
The latest from the Federal Reserve:
Consumer inflation data next Tuesday is expected to show that U.S. consumer prices rose 0.30% month-on-month in May. Bipan Rai, head of foreign exchange strategy in North America, said, “We expect there will be quite a bit of consolidation ahead of next week’s Fed decision, and the consumer price index will also be critical to the Fed’s decision. At the moment we don’t see any direction in either direction.” Big bet, and it makes sense in my opinion.”
