Posted 11/22/2023, 1:10:04 PM
US Dollar Gains After Fed Signals Steady Rates; Traders See Less Chance of Near-Term Cuts
- US Dollar trades higher against major currencies after Fed minutes dampen hopes for near-term rate cuts
- Traders see US yields halt decline as Fed signals rates to remain unchanged in upcoming meetings
- US Dollar Index flirts with jump to 104 as markets price in 94.8% chance of no rate cut in December
- Technical analysis shows US Dollar Index trying to break back above 200-day moving average near 103.62
- US economic data including durable goods orders and consumer inflation expectations could bring more US Dollar strength