Interbank Market News Scan for 14 July 2022, 2:49 pm, EDT: Waller” Convinced US did not enter recession in Q1 2022.”

FX rates as of 3:00 pm 14 July 2022

Currency PairExchange Rate

Source: OANDA 

Interbank, Pakistan, rupee. “The rupee made a slight recovery against the dollar in interbank trade on Thursday as the government reached a staff-level agreement with the International Monetary Fund (IMF) for the revival of the stalled loan programme.” — Dawn.

Interbank, Federal Reserve, inflation. “We are achieving our mandate when it comes to maximum employment, but we are far from achieving our goal of stable prices. Consequently, while any monetary policy decision has implications for achieving maximum employment, and I will address those implications in a moment, the FOMC is now, and must be, utterly focused on moving inflation down toward our 2 percent target.” — Christopher J Waller.

Interbank, Federal Reserve, stock market. “Stocks pared losses as comments from a Federal Reserve official brought some relief to traders worried about the odds of an even more aggressive pace of rate hikes plunging the economy into a recession.” Yahoo! Finance.