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The Fed Wrestles with Rate Expectations as USD Bulls Continue Push
The US Dollar bullish theme has continued to run and the September FOMC rate decision seemed to do little to tame that trend. While the Fed is still forecasting rate cuts for 2024, they moderated their prior expectation from four cuts down to two, and with US economic data continuing to show strength there’s been a growing deviation between the United States economy and the rest of the world. Recent rate decisions in Europe and the UK give the appearance that central banks in those economies may be finished with rate hikes for this cycle. Collectively, that’s amounted to weakness in both currencies and that ... (full story)