A little earlier, the foreign exchange market saw a reaction of dollar selling, causing the USD\/JPY pair to drop to exactly 149 yen, while the EUR\/USD was bought back near 1.0550 dollars. Around 22:00 Japan time, comments from Logan Dallas, the Federal Reserve Bank of Dallas President, were reported. He mentioned, “Rising yields may reduce the need for rate hikes,” which seemed to elicit a sensitive response.<\/p>\n
However, this type of commentary has been seen before and is not particularly unusual. It’s worth noting that it’s Columbus Day, a bank holiday, so there are fewer participants in the NY foreign exchange market. It’s possible that the market’s sensitivity to such comments was amplified due to the thin trading conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"
The remarks made by the Dallas Federal Reserve President also triggered a selling response in the dollar. A little earlier, the foreign exchange market saw a reaction of dollar selling, causing the USD\/JPY pair to drop to exactly 149 yen, while the EUR\/USD was bought back near 1.0550 dollars. Around 22:00 Japan time, comments from […]<\/p>\n","protected":false},"author":1,"featured_media":163,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1,11],"tags":[12,13],"class_list":["post-14","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-forex","tag-dallas-federal-reserve-president","tag-fx"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/posts\/14","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/comments?post=14"}],"version-history":[{"count":1,"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/posts\/14\/revisions"}],"predecessor-version":[{"id":164,"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/posts\/14\/revisions\/164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/media\/163"}],"wp:attachment":[{"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/media?parent=14"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/categories?post=14"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marketpulse360.com\/index.php\/wp-json\/wp\/v2\/tags?post=14"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}