On Thursday (July 7), the us dollar opened at 107.06 and closed at 107.07 yesterday. As of now, the highest has hit 107.13 and the lowest has been 107.01. Temporarily reported 107.05, down 0.02%. GBPUSD temporarily reported 1.1916, down 0.04%; Canadian dollar and US dollar temporarily reported 0.7664, down 0.04%
In early Asian trading on Thursday (July 7), the U.S. dollar traded around 107, and the pace of aggressive U.S. interest rate hikes and risk aversion drove the U.S. dollar higher; the minutes of the fed meeting showed that the July rate hike was 50 basis points and 75 basis points All possible, this fact shows that the Fed has acknowledged the impact of interest rate hikes on the economy; the euro has been dragged down by worries about the European energy crisis, and the euro has continued to fall against the dollar, hitting a new low in two decades.
At 02:00 on July 7, Beijing time, the Federal Reserve announced the minutes of its June meeting. Fed officials in June emphasized the need to fight inflation, even as it meant slowing an economy already on the brink of recession, the minutes showed. They said the July meeting could add another 50 or 75 basis points to the 75 basis point rate hike approved in June.
In discussing possible policy actions at the upcoming meeting, participants continued to expect that continued increases in the target range for the federal funds rate would be appropriate to achieve the Committee’s objectives,” the minutes said. An upward revision of 50 or 75 basis points at the meeting may be appropriate.”
At their June 14-15 meeting, Fed officials said they needed to take action to reassure markets and the public that they were serious about tackling inflation. “Many participants judged that a significant risk now facing the committee is that high inflation could become entrenched if the public begins to question the committee’s determination to adjust its policy stance as necessary,” the minutes said.