Wednesday, June 7, 2006

Dollar strengthens on rate hike talk

Dollar buoyed by 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."

Posted by denzil @ 04:57 PM (580 views)
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One thought on “Dollar strengthens on rate hike talk

  • What is the betting that the UK rate will remain the same?

    Very high is my prediction. The MPC Economic plan is to do as little as possible and avoid any tough decisions.

    Don’t forget, Labour keep telling us that they have brought us “cheap mortagages”. I didn’t realise that Labour sets the interest rate…but then again, I suppose they do, with their stooges on the MPC.

    Lets not forget, it is the chumps who remortgage to spend who have kept this economy afloat.

    As one wise person said, “you can have today and go without tomorrow but tomorrow you will go without and you will pay”

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