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Dollar index turns negative after Trump say's he's not 'thrilled' with Feds' rate hikes
Friday, 20 July 2018 01:05 WIB | CURRENCIES | Indeks DolarDolar ASThe Fed

The U.S. dollar turned negative versus its main rivals on Thursday after President Donald Trump said he disagreed with the Federal Reserve's strategy to gradually hike interest rates.

Trump told CNBC during an interview on Thursday that he isn't "thrilled" that the Federal Reserve is hiking interest rates. An excerpt of the the interview, which is slated to air early Friday, was released midday Thursday. "Because we go up and every time you go up they want to raise rates again. I don't really - I am not happy about it," Trump said.

The Federal Reserve has so far raised interest rates seven times since the end of 2015, with up to two more rate hikes expected in 2018. The monetary tightening guided both the dollar, as well as U.S. Treasury yields higher. Trump's comments are uncomfortable to investors as it called the Fed's independence from the government into question. Trump himself had nominated current Fed Chairman Jerome Powell, who took office earlier this year.

The ICE U.S. Dollar Index which had been up 0.5% at its peak on Thursday, retraced its path in response to the news and was last down 0.1% at 94.975.

Source : Marketwatch

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