Posted 11/24/2023, 1:42:00 AM
Dollar and Sterling Pull Back as Investors Rethink Fed Rate Cut Timing
- Dollar slips as investors bet U.S. interest rates have peaked and the Fed could start cutting them next year
- Yen edges higher after data shows Japan's core consumer price growth picked up, reinforcing views the BOJ may soon roll back monetary stimulus
- Markets dial back expectations for Fed rate cuts in 2024, now seeing only 25% chance of a cut in March 2024
- Data confirms Germany's economy shrank slightly in Q3, but euro pauses as surveys suggest German recession may be shallower than expected
- Sterling pauses after gaining some ground Thursday following mixed data on Eurozone PMIs