Tag: federal funds

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Dollar weakens after Powell’s testimony to Congress. Was it something he said?

Around 6:31 am yesterday, approximately three and one-half hours prior to Federal Reserve Board chairman Jerome Powell’s testimony before the U.S. House Committee on Financial Services, the price of the U.S. dollar in terms of the euro, British pound, Japanese yen, Canadian dollar, and the Eastern Caribbean dollar was as follows: USD/EUR=0.9193 USD/GBP=0.7858 USD/JPY=149.7394 USD/CAD=1.3582 … Continue reading Dollar weakens after Powell’s testimony to Congress. Was it something he said?

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Foreign exchange, fed funds futures, and bond yields as of 9:35 am EST

The takeaway …. The Federal Open Market Committee is expected to announce no change in the target range for the federal funds overnight rate. The current target range is 5.25-5.50%. The federal funds rate is the rate banks charge for lending their reserves to each other overnight. The current effective (weighted) rate is approximately 5.33%. … Continue reading Foreign exchange, fed funds futures, and bond yields as of 9:35 am EST

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Interbank Market News Scan: Federal funds, Treasury note, foreign exchange, and bitcoin data as of 8:15 am EST

30-Day Fed Funds Futures and Options (ZQV3): 95.205 Source: CME Group Effective Federal Funds Rate: 5.08% Federal Funds Target Range: 5.00% to 5.25% Discount Window Rate: 5.25% Interest on Reserve Balances: 5.15% Source: Board of Governors-Federal Reserve System U.S. Ten-year Treasurys: 3.392 Source: MarketWatch BTC/USD: Broker bid: 27718.6, Broker ask: 27765.6 GBP/USD: Broker bid: 1.26244, … Continue reading Interbank Market News Scan: Federal funds, Treasury note, foreign exchange, and bitcoin data as of 8:15 am EST