The dollar strengthened on Monday after a survey from the Federal Reserve showed U.S. banks reported tighter credit standards and weaker loan demand during the second quarter, a sign rising interest rates are having an impact on the economy.
The Fed’s quarterly Senior Loan Officer Opinion Survey, or SLOOS, which is directed both at businesses and consumers, also showed that banks expect to further tighten standards over the rest of 2023.
Read More : Dollar Rises on the Back of Fed Loan Survey, Yen Slides