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US Dollar Index recovers to 105.00 after Fed projects rates fo exceed 5% in 2024
The US Dollar Index (DXY), which tracks the Greenback’s performance against a basket of six currencies, recovers some ground, as the Federal Reserve (Fed) holds rates unchanged while keeping the door open for further tightening. At the time of writing, the DXY trades seesaw within the 105.00/105.20 range. DXY Trades in 105.00/105.20 Range as Fed Keeps Rates Steady but Signals Future Tightening: As anticipated, the Fed kept interest rates unchanged and projects an additional rate hike in 2023. The FOMC’s monetary policy statement emphasized high inflation, while Fed officials noted solid economic growth and a ... (full story)