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Edition: October 19, 2026 Public web updated
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US dollar highest since July as Fed looks to further hikes

WHAT HAPPENED

Greenback rises to seven-week high. Bullock warns inflation risks remain elevated. Yuan slips as stronger US dollar dominates.

US dollar highest since July as Fed looks to further hikes
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US dollar highest since July as Fed looks to further hikes

Evidence tier: A1 Evidence type: Auto-discovered official publication Source: Convera Company News Official publication date: 2026-09-23 Captured: 2026-10-05T04:57:26.043Z

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Greenback rises to seven-week high

The US dollar rose for a second consecutive session, reaching its highest level since 30 July, as markets increased expectations for further Federal Reserve rate hikes.

Expectations that US interest rates may remain higher for longer helped support the US dollar, with rising Treasury yields adding to the currency’s strength.

EUR/USD and GBP/USD both weakened. The euro fell for a second straight session and touched its lowest level since late July, while sterling also remained under pressure.

Bullock warns inflation risks remain elevated

AUD/USD was broadly unchanged, while NZD/USD posted modest gains.

RBA Governor Michelle Bullock used a CEDA fireside chat in Sydney to reinforce the central bank’s inflation message.

Bullock said inflation remains too high and warned that repeated global supply shocks could keep price pressures elevated for longer.

Bullock also suggested unemployment may need to rise slightly towards 4.5% to 5% to help ease excess demand across the economy.

The comments support expectations that Australian interest rates may remain higher for longer.

Yuan slips as stronger US dollar dominates

In Asia, USD/JPY was little changed.

The offshore yuan weakened 0.1% to 6.6983 per US dollar, ending a four-day winning streak as broad US dollar strength outweighed support from the People’s Bank of China.

The onshore yuan also softened, with USD/CNY closing at 6.7005.

Elsewhere in Asia, USD/SGD fell 0.1%.

Aussie steady despite RBA warnings

Table: seven-day rolling currency trends and trading ranges

Key global risk events

Calendar: 21 to 26 September

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*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.

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