And the day the financial world was waiting for has finally come. Today, the FOMC concludes its two-day monetary policy meeting, with investors fully pricing the first quarter-point cut since 2008. Given that a 25bps decrease is widely anticipated, if happens, investors may quickly turn attention to hints and signals on how officials intend to move forward.
Will the Fed Cut Rates? If Yes, Will it Signal More?
The dollar traded higher or unchanged against most of the other G10 currencies on Tuesday and during the Asian morning Wednesday. It gained versus SEK, NOK, NZD and AUD in that order, while it lost some ground only against CAD and EUR. The greenback was found virtually unchanged versus JPY, CHF and GBP.
The Swedish Krona was the main loser, coming under massive selling interest after the disappointment in Sweden’s GDP for Q2. The data showed that the economy contracted...
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