Dollar firm as Fed meeting and growth risks dominate

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar was on a firm footing on Monday, as traders brace for a sharp U.S. interest rate hike this week and look for safety as data points to a weakening global economy. The greenback was up slightly against most majors early in the Asia session, trading at $1.0195 on the euro and steadying Friday losses to buy 136.57 Japanese yen. The U.S. Federal Reserve concludes a two-day meeting on Wednesday and markets are priced for a 75-basis-point (bp) rate hike, with about a 9% chance of a 100 bp hike. “Market reaction will turn on how hawkish Chair (Jerome)P…

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