The dollar is depreciating Recession Fears Rise on Fed Stance By Investing.com

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© Reuters.

by Zhang Mengying

Investing.com – The dollar weakened Friday morning in Asian markets. and will weaken for the first time this month As investors’ concerns about the recession rose after the Federal Reserve signal to reduce inflation “unconditionally”

The US dollar, which tracks the dollar and against other currencies, was down 0.17% to 104.25 by 1:28 AM ET (5:28 GMT).

down 0.12% to 134.76

increased 0.34% to 0.6912, while increased 0.46% to 0.6304.

Down 0.06% to 6.6947 and up 0.16% to 1.2280.

It rose 0.19% to $1.0543 after falling 0.44% overnight. This was due to disappointing PMI figures from and, which fueled expectations that the European Central Bank (ECB) may adopt a less aggressive monetary policy.

“The market has begun weighing reasonably for the next two ECB meetings,” said National Bank of Australia (OTC:) interest rate strategist Ken Crompton.

“There are a number of factors that go together and raise the question of how far the ECB will be able to implement monetary tightening policies.”

Fears that the US’s aggressive monetary policy A report released on Thursday was at 52.4 in June, lower than Investing.com’s forecast of 56, while the May figure was 57, indicating June factory activity. has slowed down

Fed Chair Jerome Powell has emphasized to Congress that the Fed’s inflation battle will be Fed Governor Michelle Bowman said on the same day that she supported another 75 basis point hike for a rate hike in July. This was followed by another half-point interest rate hike next time.

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