James Bullard, president of the Federal Reserve Bank of St. Louis, and Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, indicated on Monday that the central bank may have to continue raising interest rates if inflation remains high. .
“The focus is gradually shifting back to inflation and all this hawkish talk we’re hearing from the Federal Reserve, and that’s giving the dollar some support here,” Edward Moya, senior market analyst at OANDA told New York. York.
The officials’ remarks came after statements the market deemed supportive of monetary easing by Federal Reserve Chairman Jerome Powell on Friday.
currency movements
The dollar index, which measures the performance of the US currency against a basket of major currencies, rose to 103.65, its highest level since March 20, and hit 103.33 in its last session. .
The US currency also appreciated against the Japanese yen to 138.91 yen, its highest level since November 30, before falling slightly to 138.35.
The euro fell 0.18% to $1.0794, holding above a two-month low of $1.0760 hit on Friday.
The Australian dollar fell 0.35% to $0.6627 and the New Zealand dollar fell 0.37% to $0.6261.
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