Dollar Advances as Powell Signals Fed Set for March Liftoff

Bloomberg Dollar Spot Index extended gains in Asia trading
TD sees further dollar strength against funding currencies

Powell: Fed Is 'of Mind' to Raise Rates at March Meeting

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By Payne Lubbers

January 26, 2022 at 8:40 PM UTC

Updated on

January 27, 2022 at 2:52 AM UTC

This article is for subscribers only.

The dollar climbed to a new 2022 high as Federal Reserve Chair Jerome Powell signaled that the central bank will embark on a rate-hike cycle from March.

The Bloomberg Dollar Spot Index extended gains on Thursday, adding to the 0.5% advance spurred by Powell’s comments. Commodity currencies led losses.