May 20, 2024
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Dollar rebounds as Fed officials comment on rates; $ at 6-yr high vs yen

Published by
Reuters UK

By Caroline Valetkevitch NEW YORK (Reuters) – The U.S. dollar index bounced back on Friday from recent declines following comments from Federal Reserve officials on interest rates that supported the currency, while the dollar was at a fresh six-year high against the yen and the euro eased. St. Louis Federal Reserve President James Bullard called for a dramatic increase in the Fed’s overnight lending rate to more than 3% this year, and said in a statement Friday that he not only favored a half-point increase this week, but rate increases at a pace that would require half-point increases at five…

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