I don’t think the foreign exchange market is too worried about the US delaying rate cuts. Right now, the market is down 43 basis points this year and a lot of that decline is due to tail risks.
What worries the market is that Powell says “we may have to raise rates further.”
He didn’t say that today, and by the end of the event the dollar was falling everywhere.
10 minute cable:
10 minute cable
US stocks are also doing better after Powell.
cnbctv18-forexlive
