Fed expected to pause rate hikes

In the Asian session on Friday (June 2), the U.S. dollar index fell back from a high, with the latest price of the U.S. dollar at 104.19, a drop of 0.04%. The current market expects the Federal Reserve to pause interest rate hikes, while new job creation is expected to slow to 190,000.

The latest from the Federal Reserve:

Chief investment officer James Smigiel said tomorrow’s data would have to show an unexpectedly strong labor market to force the Fed to raise rates again. One of the things we’re in now is that one number doesn’t change the status quo, he said. If the Fed wants to pause rate hikes at their next meeting, they can, regardless of the data. For the first time in this tightening cycle, the Fed has flexibility at its next meeting.