Investors have been considering whether rising inflationary pressure in the United States could force the Federal Reserve to reduce its support in order to prevent the world’s largest economy from overheating. — Reuters picNEW YORK, May 19 — Wall Street stocks fell yesterday, with technology shares turning lower in late trading, while the US dollar touched its lowest level since late February.
Investors have been considering whether rising inflationary pressure in the United States could force the Federal Reserve to reduce its support in order to prevent the world’s largest economy from overheating. “We’re seeing this dollar weakness against numerous pairs and the market is starting to believe the Fed that we’re going to have low interest rates a lot longer,” said Edward Moya, senior market analyst at OANDA in New York.
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