Early on Thursday, the US greenback continues to commerce weaker towards its main friends after the Fed cut interest rates for the third time this
Early on Thursday, the US greenback continues to commerce weaker towards its main friends after the Fed cut interest rates for the third time this year at its October financial coverage assembly. On the time of writing, the US greenback index DXY is buying and selling round 97.33.
As was extensively anticipated, the Fed introduced a 0.25% price lower on Wednesday, however on the constructive facet, it indicated that this is able to be the final price lower for a while to come back. Nevertheless, the Fed nonetheless got here out sounding much less hawkish than anticipated, driving weak point within the US greenback regardless of the speed lower that was virtually utterly priced in by markets.
Analysts worry that the Fed is contemplating retaining its choices open and the US financial system should still be in danger for additional weak point, forcing the Fed to seem extra cautious. Extra weak point within the US greenback was pushed by information stories asserting the cancellation of the upcoming APEC summit which was to happen in Chile, the place markets had been hoping the US and China would finalize and signal their interim commerce deal.