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Will the Fed Rate Hike be Dollar Bullish?
Investors remain convinced that the Federal Reserve will lift its interest rate target when its meeting concludes on March 21 with new forecasts and a press conference. Recent disappointing data, especially average hourly earnings, and retail sales, coupled with a core CPI that has been stuck at 1.8% for three months has seen some investors come to accept our view that the Fed is unlikely to signal four hikes this year, even if some of the doves revise up their hikes from two to three. The Atlanta Fed's GDPNow tracker and several money center banks have revised their Q1 GDP estimate to below 2%. The Dollar Index is ... (full story)