News > Dollar jumps as markets brace for larger, faster rate hikes
Dollar jumps as markets brace for larger, faster rate hikes
The Week | 27/01/2022 10:32 PM | Click to read full article
The dollar soared to its highest levels since July 2020 against other major currencies on Thursday, powered by bets the U.S. Federal Reserve could deliver faster and larger interest rate hikes in the months ahead.
A day after the Fed flagged that it was ready to start lifting rates in March to contain surging inflation, money markets moved to price in as many as five quarter-point increases by year-end.
