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Hawkish dot plot leads to a US dollar rally

The US dollar is 50-70 pips higher across the board following the FOMC decision.The announcement of no change in rates was largely priced in but what caught the market off guard was a rise in the Fed's dot plot to indicate that the median of policymakers see rates at 5.6% at year end. That would imply two more rate hikes before year end.At the same time, the 2024 dot moved up to 4.6% from 4.3%, suggesting a higher-for-longer path.The reaction from the market was immediate with USD/JPY climbing t... Read More

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Hawkish

Plot

Leads

Dollar

Rally

Forex

Posted: Jun 14 2023, 18:13

Author Name: forexlive

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