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The Death Of Car Ownership: This $30 Trillion Trend Could Kill The Auto Industry

Reuters

Dollar holds near multi-month high after Fed’s hawkish tilt

The dollar held near multi-month peaks against other major currencies on Monday, after the U.S. Federal Reserve surprised markets last week by signalling it would raise interest rates and end emergency bond-buying sooner than expected. The dollar index, which tracks the greenback against six major currencies, stood at 92.232 after gaining 1.9% last week, its biggest rise since March 2020. “Like many, I had expected the 61.8 Fibonacci retracement in the dollar index to hold for a bit … and at least see some consolidation,” said Chris Weston, the head of research at Pepperstone Markets Ltd, a foreign exchange broker based in Melbourne.

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