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USD/JPY holds steady as USD slides on dovish Fed minutes and job data
The US dollar continued its ascent ahead of Jerome Powell’s speech on Friday, this time helped lower by the Fed minutes and revised employment figures. The BLS downwardly revised payrolls by their largest level since the great depression, and the Fed minutes revealed that the ‘vast majority’ of members think a September cut as appropriate. Again, this isn’t really new news, given markets have been pricing in a S eptember Fed cut for several months now. Which makes it old news. Although if the Fed are finally acknowledging what markets have already been expecting, it increases the odds for three cuts this year ... (full story)
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- Posted: Aug 21, 2024 8:02pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 2,976
