The dollar rose moderately on August 17 morning against other major world currencies. Markets are assessing the prospects for the monetary policy of the US Federal Reserve System (FRS) after the publication of the minutes of the July meeting, Report informs referring to the auction data.
The euro exchange rate against the dollar fell to $1.0867 per euro from the last close of $1.0874. The dollar against the yen rose to 146.39 yen per dollar from 146.35 yen. The dollar index (the exchange rate against a basket of currencies of six US trading partners) rose by 0.1% to 103.54 points.
According to the Fed’s minutes, the participants of the July meeting expressed concern about the current level of inflation and did not rule out further tightening of monetary policy. At the same time, they did not express a unanimous opinion about how negatively a long cycle of tightening could affect the country’s economy, according to the document.
As a result, according to CME Group, 86.5% of analysts expect the Fed rate to remain at the current level of 5.25-5.5% per annum in September, and at the end of the year 33.6% allow the rate to be raised to the range of 5.5-5.75% per annum. 5.75%.
Markets also expect the release of statistics on the labor market on August 17. US initial jobless claims are forecast to fall by 8,000 to 240,000 in the week ending August 12.