The greenback was found on the back foot against all the other G10 currencies this morning, as the FOMC reiterated its “sidelines” wording, but Chair Powell said that a persistent and significant rise in inflation is needed before they start considering hikes. As for today, all lights will fall on the UK elections, with opinion polls suggesting that Conservatives may win Parliamentary majority. We also have two central banks deciding on monetary policy on today’s agenda: the ECB and the SNB.
FOMC REITERATES “SIDELINES” WORDING, SIGNALS NO CHANGE NEXT YEAR
The dollar traded lower against all the other G10 currencies on Wednesday and during the Asian morning Thursday. It underperformed the most versus SEK, AUD and NOK.
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