The U.S. dollar index hit a new one-week high and approached the 106 mark. Later, pay attention to Investing.com, the provider of the European Bank Governor’s speech.

Investing.com – In European morning trading on Friday (10th), the U.S. dollar was stable, but not far from a one-week high, after Federal Reserve Chairman Jerome Powell said that he would not rule out further interest rate hikes to combat inflation. .

As of 17:24 Beijing time (04:24 a.m. Eastern Time), the dollar’s trend against six trade-weighted major currencies was basically unchanged at 105.785; it fell 0.02% to 105.89, having earlier touched 105.99 on November 3 since high position.

The benchmark U.S. bond yield was at 4.632% and at 4.965%.

Hawkish Powell’s speech boosts dollar

The U.S. dollar received a boost after it warned on Thursday (9th) that the U.S. central bank stands ready to further raise interest rates if necessary to combat inflation.

Powell said:

“(The Fed) is committed to achieving a sufficiently stringent monetary policy stance to keep inflation down to 2% over time.”

“We do not believe we have reached such a position now. If further tightening becomes appropriate, we will not hesitate to tighten it.”

Previously, many other Fed officials also made similar remarks.

However, traders still generally believe that the Federal Reserve will keep interest rates unchanged at its last interest rate meeting of the year in December, but some are now considering the possibility of raising interest rates early next year.

Focus on ECB President Lagarde’s speech and UK GDP

Later, European Central Bank President Christine Lagarde will speak, having also kept interest rates unchanged at a meeting in late October.

At the time of writing, it rose slightly to 1.0667 and fell 0.6% so far this week. The latest Eurozone business activity data released at the beginning of this week showed that the possibility of the region falling into recession before the end of the year is increasing.

It was flat at 1.2215. Data released earlier showed that it was flat, with an increase of 0.2%, slightly better than the 0% expected.

However, GBP/USD is still down around 1.2% so far this week.

USDJPY exchange rate remains above 151

It rose 0.06% to 151.44. Investors continue to pay attention to whether the Japanese government will intervene in the foreign exchange market.

rose 0.12% to 7.2924; rose 0.06% to 7.3028. reported 2.665%.

It fell 0.12% to 0.6358. Although it raised interest rates earlier this week, it later sent a dovish signal, dragging the Australian dollar down more than 2% so far this week.

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Compiler: Liu Chuan