Re-mighty dollar. The US currency strengthened against all of its 16 major counterparts after rising at least 3.7% against all major currencies during 2014.
While Morgan Stanley reported the Fed is expected to raise interest rates in less than 8 months compared with the predictions of almost 13 months in October last. And some analysts expect the US central bank the Federal Reserve will raise interest rates (Fed Funds Rate) at the end of 2015 or early 2016, in contrast to the consensus that predicted a rise in the second quarter or third quarter of 2014.
The dollar rallied as the manufacturing sector data back reinforcing speculation the Federal Reserve will raise interest rates this year while other central banks extend its stimulus policies. Other data that supports pengutan currency is the manufacturing sector PMI data, where data from the ISM manufacturing PMI was at 55.5 last month from 58.7 in November. A reading above 50 indicates growth.
The increase in the Fed Funds rate can occur at the end of 2015, the Fed Funds rate will rise when inflation is above expectations.
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