- Graphic: World FX rates https://tmsnrt.rs/2RBWI5E
TOKYO, June 21 (Reuters) – The dollar held near multi-month peaks against other major currencies on Monday, after the U.S. Federal Reserve surprised markets last week by signalling it would raise interest rates and end emergency bond-buying sooner than expected.
The dollar index , which tracks the greenback against six major currencies, stood at 92.232 after gaining 1.9% last week, its biggest rise since March 2020.
On Friday, it jumped above key resistance around 91.95, marking a 61.8% retracement from its decline to 89.53 earlier this month from an April peak of 93.439.
“Like many, I had expected the 61.8 Fibonacci retracement in the dollar index to hold for a bit … and at least see some consolidation,” said Chris Weston, the head of research at Pepperstone Markets Ltd, a foreign exchange broker based in Melbourne.
“That wasn’t to be, and it seems technical resistance means very…