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Market Hears a Dovish Fed and Sells the Greenback

From marctomarket.com

The Federal Reserve triggered a dollar sell-off yesterday and follow-through selling was seen in Asia before profit-taking emerged. That created a new dollar selling opportunity in early European turnover. The FOMC revised up this year's growth forecast, shaved the unemployment projection, and while maintaining the PCE deflator forecast, and the median dot remained for three cuts this year. The soft-landing scenario was underscored and excited risk appetites. The G10 currencies are mixed ahead of the North American open. The Swiss franc is the weakest after the Swiss National Bank became the first G10 central bank to ... (full story)

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  • Category: Fundamental Analysis