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Dollar rises, global stocks hold highs on March Fed rate hike bets

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Reuters
March 2, 2017

European stocks held near 15-month highs and the dollar strengthened against other top global currencies on Thursday on growing expectations the U.S. central bank will raise interest rates later this month.

Wall Street looked set to open barely changed after touching a record high on Wednesday, partly on the rates outlook, which was seen as a sign of confidence in the world’s largest economy.

Federal Reserve Governor Lael Brainard became on Wednesday the latest central bank official to signal that a hike may be in the offing, saying an improving global economy and a solid U.S. recovery meant it would be “appropriate soon” to raise rates.

Federal fund futures prices suggest markets see a 72 percent chance of a 25 basis point hike at the March 14-15 meeting.

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This article was posted: Thursday, March 2, 2017 at 9:01 am





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