Hawkish Fed Hopes Pushes Dollar to Near One-Week High – 13 December, 2021

Expectations of a hawkish Federal Reserve meeting this week boosted the dollar to a near one-week high against a basket of major currencies. Against six peers, the dollar index was stable at 96.415 after reaching a high of 96.450, the first time since December 7. The Feds meeting, beginning Tuesday, will announce the policy decisions of central banks such as the Bank of England, the European Central Bank, and the Bank of Japan. The euro was stable at $1.12835, having touched a one week low overnight at $1.31615. Sterling was about flat at $1.3210, just above a one year low hit last week at $1.31615. Against the dollar, the yen stood at 113.545, while the Australian dollar eased 0.2% to $0.71215.