Wednesday, June 7, 2006
Dollar strengthens on rate hike talk
Brokers have factored in an 80% chance of a 17th consecutive monthly rise during this months meeting on June 29th. Clifford Bennett, chief strategist at FxMax said, "If the Fed does not now hike after sending the market all these hawkish hints, they will look like idiots and lose all respect from financial markets. If they do hike, they will damage the US economy and send waves around the globe."