Home Business News USD strong with all eyes on the Fed meeting

USD strong with all eyes on the Fed meeting

by Thea Coates Finance Reporter
20th Mar 24 11:10 am

The dollar index continued its rally, reaching its highest levels in almost two weeks, reacting to scaled-down bets on interest rate cuts from the Federal Reserve after stronger-than-expected inflation data.

All eyes are now turned toward the Fed meeting today as traders await hints about the timing and scale of an expected easing cycle this year.

Traders could look into the release of the dot plot and economic projections of the Federal Reserve in particular for a clearer view of how the institution might approach the next steps in its monetary policy.

A more restrictive forecast from the Fed governors and a more hawkish speech from Jerome Powell could drive the dollar to new highs as well as boost treasury yields.

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