July 22 International Forex News

July 23, 2026

FDD-global.com

7818

Guide

Highlights at a glance

The Federal Reserve is likely to keep interest rates unchanged in July, with a 74.9% probability according to CME FedWatch, while the chance of a 25 basis point hike stands at 25.1%. Looking ahead to September, the probabilities shift significantly, with a 28.9% chance of no change, a 55.7% chance of a 25 bps hike, and a 15.4% likelihood of a 50 bps increase. On July 21, the U.S. dollar index rose 0.21%, closing at 101.172. The dollar strengthened against major currencies including the euro, British pound, Swiss franc, Japanese yen, Canadian dollar, and Swedish krona, signaling robust performance in the forex market.

Probability of the Fed Keeping Rates Unchanged in July at 74.9%

July 22: According to CME FedWatch, the probability that the Federal Reserve will keep rates unchanged in July is 74.9%, while the probability of a cumulative 25 bps hike is 25.1%.

By September, the probability that the Federal Reserve will keep rates unchanged is 28.9%; the probability of a cumulative 25 bps hike is 55.7%; and the probability of a cumulative 50 bps hike is 15.4%.

Dollar Index Rises on July 21

July 22: The U.S. dollar index, which measures the dollar against six major currencies, rose 0.21% on the day and closed at 101.172 at the end of the New York session.

At the New York close, 1 euro was worth 1.1403 dollars, down from 1.1415 the previous session; 1 British pound was worth 1.3381 dollars, down from 1.3436; 1 dollar was worth 163.18 yen, up from 162.50; 1 dollar was worth 0.8129 Swiss franc, up from 0.8100; 1 dollar was worth 1.4107 Canadian dollars, up from 1.4059; and 1 dollar was worth 9.7035 Swedish krona, up from 9.6856.

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