Investors took a dovish cue from Fed Chair Jerome Powell's remarks on Wednesday that"the disinflationary process has started" in the world's largest economy, although he also signalled that interest rates would continue rising and that cuts were not in the offing.
" said that rates are going to have to be restrictive for some time, but that doesn't dissuade the market from saying some time might be six months, rather than two years." The kiwi similarly hit a fresh eight-month peak of $0.65365, after jumping more than 1% on Wednesday.With the Fed out of the way, the stage is set for the European Central Bank and the Bank of England to announce their interest rate decisions later on Thursday. Expectations are for a 50 bp rise from each.
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_Business I see a storm brewing and it is not looking good for the Dollar.
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