As markets have increasingly consolidated as the March FOMC meeting comes to a head tonight there is a suggestion that perhaps the near term dollar correction has gone too far. With the slowdown of key growth data points of major economies such as China and the Eurozone, the Fed turned “patient” in the January meeting. Little has improved since then and if anything the US data points (several delayed due to the Government shutdown) have backed up the need for patience. With no rate hike expected from a now data dependent Fed, there is an assessment that the FOMC’s dot plots calling for two hikes in 2019 will be ... (full story)