GOLD Lurking to Move Against $USD -
Enter your emailremains near an 11-month low as investors assess the strength of the US dollar amid concerns about global economic growth, as well as inflation expectations and interest rate hikes.
Federal Reserve officials are on track to raise US interest rates by 75 basis points for the second month in a row when they meet later in July, after policymakers rejected a larger increase. Investors have reversed bets on a full percentage point move after cautious comments from officials including Atlanta Fed President Rafael Bostic and James Bullard of St. Louis, along with lower long-term inflation expectations for US consumers easing some fears that pressure Prices have become entrenched.
Bond traders and investment banks speculated that the Federal Reserve could take a more drastic move to raise US interest rates by 100 basis points at its July 26-27 meeting, after economic data showed consumer prices rose 9.1% for the year through June, a new 40-year high. general. But policymakers dismissed that possibility, saying a 75 basis point hike would still be a big step and cautioned about the risks of large-scale increases.
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