Dollar dips after Fed rally, Bitcoin slumps – Reuters
- Date: 24-Jun-2021
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Dollar dips after Fed rally, Bitcoin slumps – Reuters
NEW YORK, June 21 (Reuters) - The dollar retreated from two-month highs on Monday as investors evaluated whether a perceived hawkish tilt by the Federal Reserve last week will mark a pause in the dollar bear trend that has been in play since March 2020.
The dollar has surged since the U.S. central bank on Wednesday said that policymakers are forecasting two rate hikes in 2023. That led investors to re-evaluate bets that the U.S. central bank will let inflation run at higher levels for a longer time before hiking rates.
The greenback dropped on Monday but held above where it traded before the Fed's statement on Wednesday.
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