Strong Dollar Reaches 18-Month Peak, Pressuring Bitcoin and Stocks
The US dollar index hit a fresh 18-month high near 102.56, weighing on bitcoin and equities as traders anticipate another Fed rate hike.
The US dollar index hit a fresh 18-month high near 102.56, weighing on bitcoin and equities as traders anticipate another Fed rate hike.
European trading was subdued with US bond markets closed for Columbus Day; oil rose more than 1%, the dollar held firm and gold slipped.
Samsung and SK Hynix slid and the KOSPI fell over 3% even as the Korean won touched a two-year high.
Only a minor EUR/USD option expiry at 1.1225 is scheduled for 12 October, with thin liquidity from a US bond market closure possibly amplifying moves.
The US dollar fell alongside tech stocks after a report showed OpenAI revenue below expectations, suggesting a potential shift in AI bubble dynamics.
Treasury yields rise, oil prices surge, and European stocks fall as inflation worries persist.
A strong dollar is putting pressure on Asian emerging markets like Thailand and Indonesia, risking a vicious cycle of capital outflows and weaker currencies.
A technical analysis of the major currency pairs shows the bias, limits, and targets as the dollar advances.
The US dollar has strengthened as Treasury yields near multi-decade highs, potentially tightening financial conditions without further Fed rate hikes.
US trade deficit widened to $105.6 billion in August, as imports surged more than exports.
The dollar is firmer against six of seven major currencies, stock futures are lower, and Treasury yields are steady ahead of the ISM services report.
The Indian rupee nears record lows as the dollar draws safe-haven bids and US-Iran talks stay deadlocked.
Cathie Wood says the dollar is stronger than investors think and may surge, citing a Fed index showing it 44% above the long-term average.
The dollar is mixed as traders await the September US jobs report. Oil falls and stock futures point higher.
September US nonfarm payrolls expected at 90K, with unemployment steady at 4.1%. Release could impact Fed rate hike odds and dollar.