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US Dollar Crushes Euro, Yen, Canadian Dollar, other Currencies as Fed Backpedals on Pace of Rate Cuts
The Dollar Index [DXY] which tracks the USD against a basket of six currencies (euro, yen, Canadian dollar, British pound, Swedish krona, and Swiss franc) dominated by the euro and the yen, rose to 107.6 at the moment, the highest level in two years. Over the past two months since the Fed started to furiously backpedal on the pace of its rate cuts, it has risen by 7.3%: chart The US dollar has been on a rampage against other currencies since late September when the Fed, after its monster rate cut on September 18, started talking of smaller and fewer rate cuts to end at a higher level than previously priced in, ... (full story)
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- Posted: Nov 23, 2024 11:55am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 5,301
