The dollar index, which measures the greenback against six counterparts, slid overnight after the Fed raised the benchmark rate by an as-expected 75 basis points to bring it closer to neutral, while noting that although the labour market remains strong, other economic indicators have softened.
“The markets sort of focused on his comments around the fact that we are getting very close to neutral,” Catril said.”There’s potential now to slow down the pace of hikes, and the market likes that.” It remained about 23 basis points above the 10-year yield though, widely seen as signalling a looming downturn.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: