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4 reasons why the dollar is down on the Fed
The Fed said its word: removed patience, but also said a lot of other things. Yellen did manage to balance a small part of the bearishness, but just a bit. USD is selling off heavily after a statement that saw the removal of forward guidance: the move that paves a rate hike. Why? Here are 4 quick reasons: Confidence needed on inflation: Beforehand they seemed more confident. Yellen still sees oil prices as transitory and reaching core inflation, but this confidence goes hand in hand with the previous wording on “patience”. Explicit mention of no hike in April: The Fed usually does not limit itself, and this time ... (full story)
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