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US dollar falls to the lows of the day after Powell

The implied odds of a Fed rate hike at the July 26 Fed meeting are at 76%, which is about the same as before Powell spoke today. In a sense, he endorsed the market pricing, saying that decisions will be made meeting by meeting. At the same time, he highlighted that nearly all FOMC participants expect to hike 'somewhat further' by year end.The dollar softened during his testimony and is near session lows. That's pushed the euro up 55 pips to 1.0970 on the day.It's important to note that Powell is... Read More

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Posted: Jun 21 2023, 17:30

Author Name: forexlive

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