Dollar Climbs to Strongest Since 2003 on Fed Path - 16 Dec 2016

Commodity Intraday Tips,

Crude oil range->$46 to $56.

Dollar Climbs to Strongest Since 2003 on Fed Path; Bonds Drop: - The dollar climbed to the highest level since 2003 against the euro and gold plunged as the prospect of a steeper path for U.S.interest rates filtered through markets.U.S. stocks rebounded from the worst day in two months.

Dollar index continues to climb on Fed rate hike: -

The dollar continued to climb against the other major’s currencies on Thursday, hitting fresh 14-year highs as the Federal Reserve’s decision to raise interest rates lent broad support to the greenback. The greenback found broad support after the Fed concluded its policy meeting on Wednesday by raising interest rates by 25 basis points and projected three more rate hikes for 2017. It was the

Fed’s first rate hike since December 2015.

Oil prices lower as dollar surges after Fed rate hike: - Oil prices fell on Thursday, adding to the previous session’s losses on the back of a broadly stronger U.S. dollar after the Federal Reserve raised interest rates for the first time in a year. A stronger dollar is bearish for crude, which is priced in the


U.S. currency and becomes more expensive for holders of other currencies.


Gold tumbles to 10-month lows on Federal Reserve rate hike: - Gold prices tumbled to 10-month lows on Thursday after the Federal Reserve hiked interest rates and signaled it expects to raise rates more quickly than previously anticipated in 2017. Wednesday’s rate was largely priced in by markets, but the dollar surged after the U.S. central bank predicted it would raise interest rates three times in 2017, up from the two hikes predicted in September.

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