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The precision in the central bank’s timing for taper is very hawkish, even as it says rate hikes are far away. Investors braced for a dance around taper timing, but with inflation expected to remain elevated “for months before moderating,” the time has come to act. The dot plot provided the first hint of hawkishness, with nine members favoring a 2022 rate hike, up from seven. The PCE forecasts, which are measures of inflation, were also revised sharply higher for 2021, 2022 and 2023. Powell sealed the deal during his press conference by confirming that barring any unexpected shocks, a taper announcement will be made at the central bank's next meeting in November. Although the U.S. dollar’s initial gains were limited, today’s announcement should be positive for the greenback, particularly against the Japanese Yen.
Last week, the US dollar fluctuated as inflation data came in above expectations, sparking volatility. Amid talks of potential shifts in Federal Reserve policy, investors are...
Bearish: We are currently @ 1.2735 in a channel in a range. We are continuing a third wave and looking to continue the channel to the ATR target @ 1.2680 with a further S4...
The Japanese yen is showing limited movement to start off the week. In the European session, USD/JPY is trading is almost unchanged at 149.07.Will the BoJ Raise Rates on...
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