2024-08-01 07:05:00 ET
Summary
- Neither the FOMC statement nor Fed Chair Powell's press conference dented the market's confidence that the Federal Reserve will begin an easing cycle at its next meeting in September.
- The dollar is bid against most of the G10 currencies, but the yen and Swiss franc.
- The US 10-year Treasury yield fell to 4.03% yesterday, its lowest since early February.
Overview
Neither the FOMC statement nor Fed Chair Powell's press conference dented the market's confidence that the Federal Reserve will begin an easing cycle at its next meeting in September. Yet, the dollar ([[DXY]], [[USDOLLAR]]) is bid against most of the G10 currencies, but the yen and Swiss franc. The Norwegian krone, apparently helped by a stronger PMI and the recovery in oil prices, is the strongest with a 0.25% gain. Most Asian emerging market currencies, but the Chinese yuan, are slightly firmer, while central European currencies have been dragged lower by the falling euro. The euro and sterling are at new lows for the week ahead of the BOE's rate decision shortly....
Read the full article on Seeking Alpha
For further details see:
Dollar Storms Back (But Not Against The Yen) After Fed Signals Low Bar To September Cut