The dollar was on the front foot on Monday, supported by a strong run of economic data out of the United States that traders bet will keep the Federal Reserve on its monetary policy tightening path for longer than initially expected.
"For the week ahead, the dollar can track higher given the recent run of economic data which supports the narrative of higher-for-longer interest rates," said Carol Kong, a currency strategist at Commonwealth Bank of Australia.have also underpinned the U.S. dollar, as they signalled interest rates would need to go higher in order to successfully quash inflation.still have some way to rise, pushing up market pricing for the peak ECB rate.
The kiwi fell 0.07% to $0.6238, with eyes on the Reserve Bank of New Zealand's interest rate decision on Wednesday.its tightening campaign only slightly, with a half-point interest rate hike to 4.75%. In Asia, China on Monday kept its benchmark lending rates unchanged for a sixth straight month in February, as expected, with the world's second-largest economy showing more signs of recovery from a pandemic-induced slump.
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