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 GLOBAL MARKETS-Dollar hits one-year high, Wall Street headed for the positive quarter

GLOBAL MARKETS-Dollar hits one-year high, Wall Street headed for the positive quarter

LONDON, Sept 30 (Reuters) – The dollar hit a one-year high against a basket of currencies on Thursday on growing expectations the U.S. Federal Reserve will tighten policy in coming months, and stock futures were indicating a stronger Wall Street open as the quarter ends.

Fed Chair Jerome Powell said on Wednesday that resolving “tension” between high inflation and still-elevated unemployment is the most urgent issue facing the Federal Reserve right now, acknowledging the central bank’s two goals of stable prices and full employment are in potential conflict.

This mention of inflation helped the U.S. currency to end the quarter on a positive note.

“In the currency markets, there are expectations that the Fed will tighten, and the dollar is a safe asset,” said Sebastien Galy, senior macro strategist at Nordea Asset Management.

https://www.nasdaq.com/articles/global-markets-dollar-hits-one-year-high-wall-street-headed-for-positive-quarter-2021-09

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