Fed Rate Hike Prospects Expected to Support Dollar, ING's Turner Says

Chris Turner from ING stated in a report that the increasing likelihood of Federal Reserve rate hikes should provide support for the U.S. dollar. According to Jin10, even with reports of concrete progress in U.S.-Iran peace talks, the dollar is unlikely to see significant downside. Turner highlighted that Fed Governor Christopher Waller recently warned that if oil prices remain high, the possibility of rate hikes cannot be ruled out. Meanwhile, due to economic fragility, investors have lowered their expectations for rate hikes in the Eurozone and the UK.