FOMC Skips June, But Signals Hikes Not Done Yet
FOMC Skips June, But Signals Hikes Not Done Yet As widely expected, the FOMC decided unanimously to refrain from raising rates at today’s meeting. However, the Committee continued to say that “additional policy firming” may be appropriate. Furthermore, the median dot for 2023 shifted up by 50 bps. That is, most FOMC members believe that another 50 bps of tightening may be appropriate by the end of 2023. Prior to the meeting, the bond market […]
Dollar surges after Fed signals more rate hikes ahead
Dollar surges after Fed signals more rate hikes ahead The U.S. dollar rallied in early European trade Thursday, boosted by the Federal Reserve’s hawkish projection of more tightening this year, while the euro weakened ahead of the latest European Central Bank policy meeting. At 02:05 ET (06:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% higher to 102.835, recovering from the previous session’s four-week low. The […]