The US dollar fell to a five-week low on Friday, remaining under pressure for a third straight session after the Federal Reserve quashed hopes for a further currency bull run by keeping a gradual rate-hiking pace.
“At the moment, the dollar remains in correction mode, which we had fully expected,” said Fawad Razaqzada, market analyst, Forex.com in London.
“But we remain fundamentally bullish on the greenback because the Fed remains the only major central bank which is actively tightening its policy.” James Chen, head of research at Forex.com in Bedminster, New Jersey, also pointed out that the pace of Fed rate hikes and policy outlooks can change extremely quickly.
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Posted by Arnaldo Rodgers on 10:53 am, With 0 Reads, Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.