Bank of Japan Likely to Delay Rate Hike Until July as Economists Eye 1% by September 
New York Fed President John Williams Signals Rate Hold as Economy Seen Strong in 2026 
Jerome Powell Attends Supreme Court Hearing on Trump Effort to Fire Fed Governor, Calling It Historic 
U.S. Urges Japan on Monetary Policy as Yen Volatility Raises Market Concerns 
Markets React as Tensions Rise Between White House and Federal Reserve Over Interest Rate Pressure 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Long U.S. dollar seems to be the 'bet' for 2019 in the currency market,
- The dollar index, which is the value of the U.S. dollar against a basket of six currencies is continuing to march higher in 2019. The index is up 2.2 percent YTD, and in last one month, the index is up 1.6 percent.
- While USD firms, its major trading counterparts have declined against it; EUR (-2.75 percent YTD), GBP (-2.4 percent in last one month), CHF (-3.75 percent YTD), and JPY (-2 percent YTD).
While the recent rise in demand for U.S. Treasuries is playing a key role in USD’s strength, the hike odds are not having much of an impact.
While USD firms, investors are increasingly betting on the possibility of a rate cut by the U.S. Federal Reserve. As of today, the financial market participants pricing a 60.5 percent probability of a rate cut by the Fed before the end of 2019, compared to just 40.6 percent a week ago.
However, an increase in rate cut odds shouldn't be viewed as a catalyst that would push the dollar down, since other central banks may outcut the Federal Reserve.
