Chart Of The Day: Dovish Fed Pressures U.S. Dollar
- Date: 31-Jul-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Chart Of The Day: Dovish Fed Pressures U.S. Dollar
After the US Federal Reserve's on Wednesday, the fell to a three-week low. The USD selloff extended into Thursday, for a fourth day of declines, for the first time since Dec. 4, 2020.
During yesterday's FOMC , Fed Chairman Jerome Powell reiterated, yet again, that higher rates won't be forthcoming any time soon. , "we have some ground to cover on the labor market side," before the bank will start tapering its asset purchases, a more subtle form of tightening than raising interest rates.
Does this mean the dollar will now head higher? The technicals are unclear.
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