Thursday 03, August 2017 by William Mullally

Likelihood of another rate hike diminishing

Mihir Kapadia – CEO and Founder of Sun Global Investments, writes on the latest.

The dollar has come under increased strength recently following a string of poor US data. With the likelihood of another US rate hike before the end of the year diminishing, investors are not being encouraged by sustained political uncertainty due to policy.

The greenback started to decline after the release of US data, with the Chicago PMI down from 65.7 to 58.9 in July, its lowest level in three months, while Pending Home Sales increased in June by 1.5 per cent (up 0.7 per cent y/y).

 

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