![Dollar halts slide on Fed rate hike talk](https://photo-cdn.urdupoint.com/media/2016/08/_2/740x404/pic_1471414824.jpg)
Dollar Halts Slide On Fed Rate Hike Talk
Fahad Shabbir (@FahadShabbir) Published August 17, 2016 | 11:20 AM
![Dollar halts slide on Fed rate hike talk](https://photo-cdn.urdupoint.com/media/2016/08/_2/740x404/pic_1471414824.jpg)
TOKYO,(UrduPoint / Pakistan Point News - 17th Augst,2016) - The Dollar halted its slide in Asia trade Wednesday after a senior US central banker said overnight that an interest rate raise could come as early as next month. William Dudley, the influential head of the Federal Reserve's New York branch, unexpectedly hinted that a rate hike was possible as early as September. Analysts said the comments from Dudley -- who remarked that Wall Street investors were too "complacent" about the prospect of higher borrowing costs over the next year -- halted the US unit's fall in Asia. The greenback had briefly dived under the 100 level against the safe-haven Japanese Currency in New York for only the second time this year, touching as low as 99.54 at one stage. "While Dudley was at least able to stem the bleeding for the dollar index, price action is not encouraging for the dollar near term," Sean Callow, a Sydney-based senior foreign-exchange strategist at Westpac Banking Corp.
, told Bloomberg news. "Still, so long as a rate hike seems more likely than not as the Fed's next move, we wouldn't get super bearish on the dollar." In Tokyo morning trade, the greenback climbed to 100.57 Yen from 100.30 yen Tuesday in New York. The euro rose to 113.46 yen from 113.10 yen in US trade, as another Japanese official hinted at a possible bid to weaken the yen. Japan's currency has been on a tear since wild market volatility at the start of the year pushed investors into the currency, seen as a safe bet in times of turmoil. The rally picked up after Britain's vote to quit the European Union sent shivers across world markets.
Related Topics
Recent Stories
![Cricket: England v West Indies 3rd Test scoreboard](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019914.jpg)
Cricket: England v West Indies 3rd Test scoreboard
![Finance minister briefs Chinese officials on refor ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019922.jpg)
Finance minister briefs Chinese officials on reform agenda, engagement with IMF
![Finland says Russian vessel violated its territori ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019912.jpg)
Finland says Russian vessel violated its territorial waters
![Olympic opening ceremony under way on River Seine](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019266.jpg)
Olympic opening ceremony under way on River Seine
![West Indies' treble strike rocks England in third ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019264.jpg)
West Indies' treble strike rocks England in third Test
![Ukraine court orders detention of suspect in murde ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019262.jpg)
Ukraine court orders detention of suspect in murder of nationalist ex-MP
![Long queues, ticketing problems ahead of Paris ope ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019015.jpg)
Long queues, ticketing problems ahead of Paris opening ceremony
![Rana Sanaullah Khan joins Paris 2024 Olympics inau ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019638.jpg)
Rana Sanaullah Khan joins Paris 2024 Olympics inauguration reception
![Glowing tributes mark 69th birthday of President Z ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019637.jpg)
Glowing tributes mark 69th birthday of President Zardari at Governor's House
![Players unaware of spying scandal as Canada Olympi ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019635.jpg)
Players unaware of spying scandal as Canada Olympic coach sent home: official
![Naqvi hails Pak women cricketers for going down fi ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019013.jpg)
Naqvi hails Pak women cricketers for going down fighting against SL
!['Sabotage' on French rail network before Olympics: ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019634.jpg)
'Sabotage' on French rail network before Olympics: What we know
More Stories From Business
-
Finance minister briefs Chinese officials on reform agenda, engagement with IMF
7 hours ago -
Chinese support for CPEC, development projects show deep love with Pakistan: Mushahid
8 hours ago -
G20 seeks common ground on taxing super-rich
8 hours ago -
Stocks rise as inflation data boosts rate cut hopes
8 hours ago -
Land of PSM to be used for establishment of SEZs: NA body told
10 hours ago -
European medicines watchdog rejects new Alzheimer's drug
10 hours ago
-
FBR committed to resolve taxpayer issues in KP, Chairman FBR assures Governor KP
12 hours ago -
Tanveer emphasizes role of SEZs in attracting investment
12 hours ago -
Russian central bank hikes key rate to fight inflation
12 hours ago -
SBP injects Rs9.545 trillion into market
12 hours ago -
PSX stays bearish, loses 439 points
12 hours ago -
US Fed's favored inflation measure cools further in June
13 hours ago