USD price continuously increases, what will happen to GBP?
The dollar hit a 10-month high against other currencies last trading session, dragging the euro to a nearly nine-month low, as investors bet the US economy will outpace growth. outperform other competitors in a high interest rate environment.
The USD price was supported by a strong increase due to the "hawkish" stance of the US Federal Reserve (Fed) on raising interest rates. Mr. Jamie Dimon - CEO of JP Morgan said that the market needs to prepare for interest rates at 7% in the coming months. Meanwhile, USD interest rates are currently at 5.25% and 5.5%. If interest rates continue to increase, the USD price will be supported to increase further in the near future.
The USD price was supported by a strong increase due to the "hawkish" stance of the US Federal Reserve (Fed) on raising interest rates. Mr. Jamie Dimon - CEO of JP Morgan said that the market needs to prepare for interest rates at 7% in the coming months. Meanwhile, USD interest rates are currently at 5.25% and 5.5%. If interest rates continue to increase, the USD price will be supported to increase further in the near future.
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