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. ET), the U.S. dollar index futures, which measures the U.S. dollar against six trade-weighted major currencies, was basically flat at 105.785; the U.S. dollar index fell 0.02% to 105.89, having hit 105.99 earlier. It is the highest level since November 3.

Benchmark U.S. Treasury yields: The U.S. 10-year Treasury bond yield was at 4.632%, and the U.S. 20-year Treasury bond yield was at 4.965%.

h2 Hawkish Powell’s speech boosts USD/h2

The U.S. dollar received a boost after Federal Reserve Chairman Powell 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.

h2 focuses on ECB President Lagarde’s speech, UK GDP/h2

Later, European Central Bank President Christine Lagarde will give a speech, after the European Central Bank also kept interest rates unchanged at its meeting in late October.

At the time of writing, EUR/USD rose slightly to 1.0667, down 0.6% so far this week. The latest Eurozone business activity data released at the beginning of this week showed that the region is increasingly likely to fall into recession before the end of the year.

GBP/USD was flat at 1.2215. Data released earlier showed that UK GDP in the third quarter was flat month-on-month, but GDP increased by 0.2% month-on-month in September, slightly better than the 0% expected.

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

h2 USD/JPY exchange rate remains above 151/h2

USD/JPY rose 0.06% to 151.44, with investors continuing to pay attention to whether the Japanese government will intervene in the foreign exchange market.

The U.S. dollar rose 0.12% against the onshore renminbi to 7.2924; the U.S. dollar rose 0.06% against the offshore renminbi to 7.3028. China’s 10-year government bond yield was at 2.665%.

AUD/USD fell 0.12% to 0.6358. Although the Reserve Bank of Australia raised interest rates earlier this week, it later issued a dovish signal, dragging the Australian dollar down more than 2% so far this week.

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Compiler: Liu Chuan