4.7 Billion Dinars in Treasury Revenues; Public Debt Rises to 35.3 Billion Dinars - Jordan News
—(Petra)
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U.S. Interest Rate Cut Bets Push Dollar to Multi-Week Lows The dollar fell to its lowest levels in weeks against major currencies on Thursday, as traders increasingly bet on a renewed Federal Reserve interest rate cut next month. اضافة اعلان The U.S. dollar underperformed against the yen after Treasury Secretary Scott Bessant suggested that the Bank of Japan may need to raise rates again soon, while the Fed is expected to sharply cut rates. Rising expectations of a rate cut, coupled with increased institutional investment in cryptocurrencies, pushed Bitcoin to a new record high. The Australian dollar also rose following strong labor market data. In the U.S., the central bank's messaging has recently tilted more toward monetary easing amid signs of a slowing labor market, while President Donald Trump's policy moves have not yet significantly pressured prices. According to the London Stock Exchange Group, market participants now see a Fed rate cut on September 17 as virtually certain. Kyle Rodda, an analyst at said, 'For the markets, it's no longer a question of whether the Fed will cut rates in September, but by how much.' The Federal Reserve remains under intense political pressure to ease monetary policy. Trump has repeatedly criticized Fed Chair Jerome Powell for not cutting rates sooner, even threatening his dismissal before the end of his term in May next year. Treasury Secretary Bessant on Wednesday called for a 'series of rate cuts,' noting that the Fed could begin easing policy with a half-point reduction. He added that the Bank of Japan is 'behind the curve' in postponing rate hikes. The dollar fell 0.7% to 146.35 yen, its weakest level since July 24. The British pound rose to its highest level since July 24 at $1.3590. The euro hovered around $1.1703, just below Wednesday's peak of $1.1730, a level not seen since July 28. The combination of a weaker dollar, political pressure on the central bank, and increased investor risk appetite amid rate-cut expectations also supported Bitcoin, which reached $124,480.82 before trading around $123,000. The Australian dollar climbed as much as 0.4% to $0.65685, its highest level since July 28, before trimming gains to $0.6552. — (Agencies)
