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AUD/JPY prints swing high ahead of BOJ: Asian Open Date – 27th July 2023
The Fed unanimously voted to hike their interest rate by the expected 25bp to 5.5%, but left the door open to further hikes with its ‘data-dependant approach’. • Jerome Powell’s speech was deemed slightly less hawkish than anticipated judging from the market reaction. • Powell highlighted the importance of the June CPI report when he said “we will be looking to see if the signal from June CPI [of lower inflation] is replicated”, which keeps another hie on the tabe if it doesn’t decelerate quickly enough. • Fed Funds continue to favour a hold in September with a 78% probability. • A softer than ... (full story)