FOREX-Dollar gains, euro rallies on better-than-expected data

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(Redesign with Fed news, add quotes, update prices; change signature; old LONDON) * Chart: global exchange rates https://tmsnrt.rs/2RBWI5E By Karen Brettell NEW YORK, November 23 (Reuters) 16-month highs on Tuesday after Federal Reserve Chairman Jerome Powell was picked for a second term, bolstering market expectations that U.S. interest rates will rise in 2022. Business growth in the region. Foreign exchange markets have been driven primarily in recent months by market perceptions of the different rates at which global central banks are cutting pandemic-era stimulus packages and raising rates. Powell’s re-appointment supports the view that the Fed should start raising rates in mid-2022, after its bond buying program ends. “Markets viewed the result as slightly hawkish, and futures have now confirmed expectations of a June hike after being skewed towards July,” Brown Brothers Harriman currency analysts said in a note Tuesday. The dollar index was last up 0.06% to 96.514, slightly below the 16-month high of 96.61 it reached during hours of trading in Asia. The euro gained 0.10% against the dollar at $ 1.1245, rallying after hitting a 16-month low at $ 1.1226. The euro fell on Monday as concerns grew over new COVID-19 restrictions in Europe, with Austria entering another full lockdown and Germany considering following suit. Germany’s health minister called for further restrictions on public spaces. The euro is enjoying some near-term technical support in the $ 1.1240- $ 1.180 area, which were the highs reached in October and December 2019, Commerzbank technical analysts Karen Jones and Axel Rudolph said on Tuesday. , in a report. If it crosses below that area, however, it will likely drop to $ 1.1,000, which is the 78.6% retracement of the 2020 move, they said. The dollar hit a four and a half year high against the Japanese yen at 115.08 yen. The greenback hit a new seven-week high of C $ 1.2744 against the Canadian dollar, which was hit by lower oil prices, before falling back to C $ 1.2710. The Turkish lira fell to a new all-time low of 12 against the dollar. It was his eleventh record in as many days, after President Tayyip Erdogan defended recent rate cuts and pledged to win an “economic war of independence.” In cryptocurrencies, bitcoin was trading at around $ 57,451. Earlier this month, he hit a new record high of $ 69,000. Currency bid price at 9.45am (2.45pm GMT) Description RIC Last US Close Percentage Change YTD High Bid Price Low Bid Previous Session Dollar Index 96.5140 96.4670 + 0.06% 7.260% +96.6120 +96.3080 Euro / Dollar $ 1.1245 $ 1.1234 + 0.10% -7.96% + $ 1.1275 + $ 1.1226 Dollar / Yen 115.0150 114.9000 + 0.13% + 11.38% +115.1450 +114.5250 Euro / Yen 129.36 129.06 + 0.23% + 1.92% +129.4300 +128.9000 Dollar / Switzerland 0.9335 0.9330 + 0.06% + 5.53% + 0.9344 + 0.9303 Sterling / Dollar $ 1.3373 $ 1.3400 -0.22% -2.14% +1.3409 $ +1.3344 Dollar / Canadian 1.2710 1.2701 + 0.08% -0.18% +1.2744 +1.2694 Aussie / Dollar $ 0.7227 $ 0.7225 + 0.03% -6.05% + 0.7236 + $ 0.7212 Euro / Switzerland 1.0496 1 , 0481 + 0.14% -2.88% +1.0508 +1.0470 Euro / Sterling 0.8407 0.8385 + 0.26% -5.93% +0.8428 +0.8386 NZ 0, $ 6,939 $ 0.6957 -0.33% -3.44% + $ 0.6959 + $ 0.6917 Dollar / Dollar Dollar / Norway 8.9135 8.9420 -0.22% + 3.91% +8 , 9755 +8.9225 Euro / Norway 10.0290 10.0300 -0.01% -4.17% +10.1038 +10.0261 Dollar / Sweden e 9.0135 8.9953 +0.34% +9.97% +9.0204 +8.9725 Euro / Sweden 10.1366 10.1020 +0 .34% + 0.60% +10.1482 +10.1052 (Additional report from Elizabeth Howcroft in London edited by Alistair Bell)

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