Fed’s Bostic: I have no idea what Warsh has in mind

Agustin Wazne FXStreet

Federal Reserve (Fed) Bank of Atlanta President Raphael Bostic said that inflation has been too high for too long, adding that the Fed can’t lose sight of inflationary concerns in an interview with Bloomberg on Friday.

Key takeaways:

I have no idea what Warsh has in mind for the Fed regime change.

The economy has been K-shaped for a while, before the pandemic.

We need to keep policy restrictive to get inflation to 2%. It will be April or May before data gives clear signals.

The Fed can't lose sight of inflationary concerns.

Inflation has been too high for too long, at plateau.

Businesses see upside potential in the economy.

Tariff effects will have run through by middle of year.

Sentiment in the district is one of cautious optimism.

I think it's doable to go back to scarce reserves.

I don't see Fed mission creep argument.

The Fed might need to lean more into non-official data."

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.26%	-0.48%	-0.02%	-0.43%	-0.90%	-0.81%	-0.23%
EUR	0.26%		-0.22%	0.26%	-0.17%	-0.63%	-0.55%	0.03%
GBP	0.48%	0.22%		0.49%	0.06%	-0.41%	-0.32%	0.25%
JPY	0.02%	-0.26%	-0.49%		-0.41%	-0.89%	-0.81%	-0.23%
CAD	0.43%	0.17%	-0.06%	0.41%		-0.48%	-0.39%	0.19%
AUD	0.90%	0.63%	0.41%	0.89%	0.48%		0.09%	0.67%
NZD	0.81%	0.55%	0.32%	0.81%	0.39%	-0.09%		0.58%
CHF	0.23%	-0.03%	-0.25%	0.23%	-0.19%	-0.67%	-0.58%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.