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● TRACKER Updated 15d ago · 9 sources tracked

Dollar near two-week high as Warsh boosts rate-hike bets; yen hovers near 160

The US dollar reached a two-week high and its largest gain in four weeks after comments from Kevin Warsh increased market expectations for Federal Reserve rate hikes. Traders are hedging for a larger rebound as inflation data supports these bets. Meanwhile, the Japanese yen has slipped past 160. While the dollar is positioned for a weekly gain, some analysts suggest growth may be limited since a September rate hike is not guaranteed. The euro remains stable near 1.16 as markets await the US jobs report.

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  • ✓ The US dollar reached a two-week high.
  • ✓ The dollar recorded its largest gain in four weeks.
  • ✓ The Japanese yen slipped past 160.
  • ✓ The euro is holding near 1.16.
🛡️ Source Corroboration: 9 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Kevin Warsh's speech triggered a dollar rally and prompted Barclays to forecast two additional rate hikes.

Live updates

  1. Dollar hits two-week high as Warsh comments fuel rate-hike bets

    The US dollar reached a two-week high and its largest gain in four weeks after comments from Kevin Warsh increased market expectations for Federal Reserve rate hikes. Traders are hedging for a larger rebound as inflation data supports these bets. Meanwhile, the Japanese yen has slipped past 160. While the dollar is positioned for a weekly gain, some analysts suggest growth may be limited since a September rate hike is not guaranteed. The euro remains stable near 1.16 as markets await the US jobs report.

    Why it matters

    Market volatility is driven by conflicting views on the Federal Reserve's next move. Kevin Warsh's suggestion that there is still work to do has shifted trader sentiment toward further tightening. This tension persists as investors balance inflation indicators against upcoming employment data.

    What is confirmed

    • The US dollar reached a two-week high.
    • The dollar recorded its largest gain in four weeks.
    • The Japanese yen slipped past 160.
    • The euro is holding near 1.16.

    Still unconfirmed

    • Barclays forecasts a 25-basis-point increase in September and another hike in December.
    • Traders are hedging for a bigger dollar rebound following Warsh's speech.

    What to watch next

    • Release of the US jobs report
    • Federal Reserve decision on a September rate hike
    Sources used for this update (10)
    1. Bloomberg.com — Dollar Gains Most in Four Weeks as Inflation Backs Fed Hike Bets
    2. ING Think — FX Daily: Keeping an eye on the long end
    3. CNBC — Dollar rises to session high after Warsh comments, set for weekly gain
    4. Bloomberg.com — Traders Hedge for Bigger Dollar Rebound on Warsh’s Speech
    5. Reuters — Dollar near two-week high as Warsh boosts rate-hike bets; yen slips past 160
    6. FXStreet — EUR/USD Price Forecast: Gains ground to near 1.1600, bullish vibe prevails above 100-day SMA
    7. TradingView — EUR/USD: Euro Holds Near $1.16 as US Jobs Report Sets Up the Week’s Main Test
    8. Barron's — Dollar Gains Could Be Limited as September Rate Hike Not a Done Deal
    9. www.globalbankingandfinance.com — Dollar inches lower as markets weigh Fed rate outlook; yen hovers near 160
    10. finance.yahoo.com — Fed Rate Hike Odds Jump: Why Kevin Warsh’s ‘Work To Do’ Comment Has Barclays Reportedly Calling For Two More Hikes
    confidence 90%
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