Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Bank of Japan Likely to Delay Rate Hike Until July as Economists Eye 1% by September 
Bank of Korea Expected to Hold Interest Rates as Weak Won Limits Policy Easing 
RBA Expected to Raise Interest Rates by 25 Basis Points in February, ANZ Forecast Says 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The dollar declined sharply after President Trump criticized the U.S. Federal Reserve’s rate hike paths, saying that he had expected the Fed chair Jerome Powell to be a ‘cheap-money’ central banker and he is disappointed that he has followed through his predecessor in hiking rates. The dollar index has declined to 95.6 area as of today from 97.06 area, after President Trump’s comment on rate hikes.
However, rates market don’t seem that impressed by President Trump’s comment and they are pricing that the U.S. Federal Reserve would move ahead with its rate hike plans despite the President’s opposition.
The market is currently pricing 96 percent chance of a rate hike in September compared to 93.6 percent before the President’s comment and the market is pricing the fourth rate hike with 62.8 percent probability compared to 65.4 percent probability before the President’s comments.
