Traders Raise Bets On June Interest Rate Hike As Fed Officials Hints 'We Are Not There Yet': Dollar Strengthens, Treasury Yields Jump
Portfolio Pulse from Piero Cingari
Dallas Fed President Lorie Logan stated that current data does not support a pause in interest rate hikes, leading to increased market expectations for a Fed hike in June. The implied probability of a rate rise in June is now close to 40%, up from 10% a week ago. The Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) is up 0.6%.
May 18, 2023 | 2:53 pm
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The Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) is up 0.6% as market expectations for a Fed interest rate hike in June increase.
The increased market expectations for a Fed interest rate hike in June, as hinted by Dallas Fed President Lorie Logan, have led to a strengthening of the US Dollar. This has a direct positive impact on the Invesco DB USD Index Bullish Fund ETF (UUP), which tracks the U.S. Dollar Index, causing it to rise by 0.6%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100