AVUV - Market Hears A Dovish Fed And Sells The Greenback
2024-03-21 07:30:00 ET
Summary
- The Federal Reserve triggered a dollar sell-off yesterday and follow-through selling was seen in Asia before profit-taking emerged.
- The G10 currencies are mixed ahead of the North American open.
- Outside of China, the large equity markets in Asia Pacific rallied with the Nikkei, South Korea, and Taiwan advancing.
- Gold reached a new record high today.
Overview
The Federal Reserve triggered a dollar sell-off yesterday and follow-through selling was seen in Asia before profit-taking emerged. That created a new dollar selling opportunity in early European turnover. The FOMC revised up this year's growth forecast, shaved the unemployment projection, and while maintaining the PCE deflator forecast, the median dot remained for three cuts this year. The soft-landing scenario was underscored and excited risk appetites....
Market Hears A Dovish Fed And Sells The Greenback